By NZPA
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Wednesday 19th June 2002 |
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The panel will meet with former Brierley executive Paddy Marra (19.79 percent stake), Michael Kooiman (19.79 percent), Balmoral Investment Trust (14.48 percent), and Kate Foot (1.89 percent) next Wednesday to discuss their new holdings in Seafresh.
On June 11 the Lim family, 56 percent stakeholders in Seafresh, announced it had sold almost all its shares to four unnamed investors.
The Lim family sold its 36.949 million shares for 0.27c a share on or about June 10 by a private treaty, retaining just 900 shares and a place on the board.
Mr Marra has been appointed chairman and director of Seafresh, and Mr Kooiman is now a director.
"The panel considers that the buyers may not have acted or may not be acting or may intend not to act in compliance with the Takeovers Code by acquiring voting rights in Seafresh NZ Ltd," the Takeovers Panel said in a statement today.
The panel has made an order restraining the four buyers from buying or selling Seafresh shares, or voting on any issue relating to Seafresh.
The order expires on Friday, June 28 at 5pm.
Mr Marra was formerly corporate general manager of Brierley, now BIL International, and Mr Kooiman has an engineering background and has owned ships.
Seafresh was established by the Lim family in 1982, but the company has hit troubled waters in recent years, including a $6.8 million loss in 2001.
Seafresh's Lower Hutt factory is up for auction on July 3 by Colliers after the company defaulted on its loan with Harts Contributory Mortgages.
"The board of Seafresh is currently evaluating the company's position, with a view to developing a strategy to progress the company's future," Seafresh directors said in a statement to the stock exchange today.
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