Sale of Crayfish Quota in areas CRA7 and CRA8
29th April 2022
NZX Continuous Disclosure
Sanford Announces Sale of Crayfish Quota in areas CRA 7 and CRA 8
New Zealand seafood company Sanford Limited (SAN) has agreed the unconditional sale of
its spiny (red) rock lobster quota in Fisheries Management Areas CRA7 and CRA8.
Sanford has reached an agreement to sell these quota holdings to Deltop Holdings Limited, a
subsidiary of Fiordland Lobster Company Limited, for a total consideration of $49.3 million,
with a completion date of 29 April 2022.
Sanford’s shareholding represented 0.3% of CRA7 and 2.3% of CRA8.
The company is also considering the sale of its CRA2 quota holding. This transaction is not
considered material and an update will be provided in the interim report.
Sanford CEO Peter Reidie says “we concluded that our lobster quota did not provide the best
return on investment and the value realised from this quota sale will be reinvested in the
business. It will ultimately help improve shareholder value by contributing to the significant
investment required over the next five years to meet our primary strategic outcomes. These
include the growth of our salmon and mussel businesses and sustainable investment in
wildcatch operations.”
For more information please contact:
Fiona MacMillan
GM Corporate Communications, Sanford
fmacmillan@sanford.co.nz
+64 (0)21 513 522
Carly Sheehan
Communications Advisor, Sanford
csheehan@sanford.co.nz
+64 (0)22 656 4460
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.
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