Seafresh fails to file interim report

The exchange said the company was due to file the report by July 31. Normally it would have five business days following the due date to comply, after which its shares would be suspended.

But Seafresh has already been suspended from trading this week after informing share registry managers Computershare it could no longer pay its fees.

The company has had a troubled year after it defaulted on a $1.35 million loan with Harts Contributory Mortages.

It also posted a $6.8 million loss in 2001 and at the annual meeting in March, managing director Peng Heng Lim said the company would "have to work very, very hard" to break even this year.

Recently a group of four Wellington investors paid just under $100,000 for 56 percent of Seafresh.

The four were later found to have broken the takeovers code by buying the shares in concert. They now have until September 30 to meet certain conditions or risk forfeiting their holding.

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