Seeka sells out of Zespri after opposing changes to constitution tying shares to trays

Wed, 04 Apr 2018

By Jonathan Underhill April 4 (BusinessDesk) - Seeka, New Zealand's biggest kiwifruit grower, has sold out of Zespri Group after opposing constitutional changes at the monopoly export body that tie shareholdings to trays of fruit produced. The changes were approved by more than 75 percent of shareholders last month but among the resolutions was that shareholders who voted all their shares against the overhaul could require Zespri to buy back their shares. Holders of 1.78 million shares - or about 1.5 percent of shares on issue - exerci...

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