Seeka clears first hurdle in OPAC amalgamation

14 April 2021

Seeka clears first hurdle in OPAC amalgamation

Seeka Limited [NZX:SEK] advises that the Shareholders of OPAC Limited have voted overwhelmingly
in favour of its acquisition by amalgamation with Seeka. 99.8% of Shareholders who voted at the
Special Shareholders Meeting of OPAC on Tuesday were in favour, well ahead of the required 75%
threshold.
The transaction still has conditions to be achieved including better than 50% support by the Seeka
shareholders at their Annual Shareholder Meeting to be held on 16 April along with banking and
grower support which are expected to be satisfied by 4 May, being the effective date.
Fred Hutchings, Seeka Chair, commented that the high level of support from the OPAC shareholders
is very pleasing and is a resounding expression of confidence in the deal and the future. The
integration process will start from 4 May once the remaining hurdles are cleared.
Tony de Farias, OPAC Chair, advised that this was a transaction which was accretive to both
companies, and one which would deliver benefits to the OPAC growers through being part of a
bigger Company with bigger capacity.

Release ends:
For further information please contact:
Michael Franks Seeka Chief Executive 021356516
Stuart McKinstry Seeka Chief Financial Officer 0212215583