Seeka exercises Zespri minority buy-out rights
4 April 2018
Seeka exercises Zespri minority buy-out rights
Seeka advises the market that it has exercised its minority buy-out rights under the Companies Act
as a consequence of Zespri’s recent passed Constitutional Changes in respect of the Zespri shares
the Company holds.
The terms of the buyout rights will see Seeka receive some $6.11m from Zespri on or about 10 April
2018. The strike price being $8.25 per share.
The price received for each share compares favourably to the carrying value of $8.22 per share as at
the 31 December 2017.
Seeka advises that the monies will be used to fund capital expenditure and repay debt.
Ends:
For further information please contact:
Michael Franks Seeka Chief Executive 021356516
Stuart McKinstry Seeka Chief Financial Officer 0212215583
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- TGG — T&G Global Limited: SALE OF KIWIFRUIT OPERATION AND ASSETS2018-04-19
“NZX Announcement 20 April 2018 T&G GLOBAL LIMITED ANNOUNCES SALE OF KIWIFRUIT OPERATION AND ASSETS The Board of T&G Global Limited (T&G) has announced the sale of its Kerikeri-based kiwifruit orchards, post-harvest facilities and business assets (together the “Kiwifru…”