Comvita seeks to build SeaDragon stake with $3 mln convertible loan

Fri, 27 May 2016

By Paul McBeth May 27 (BusinessDesk) - Comvita wants to increase its stake in SeaDragon with a $3 million convertible loan, which the fish oil refiner will use to fund its exit from Omega-2 oil in favour of the more profitable Omega-3 market. Te Puke-based Comvita already holds a 13 percent stake in SeaDragon and has options that could lift that holding to between 25 percent and 31 percent. SeaDragon shareholders will vote on whether to approve the convertible loan at their annual meeting in August, effectively lifting the honey healthca...

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