Seeka shareholder Farmind to cut stake to reduce foreign ownership

Fri, 27 Apr 2018

By Paul McBeth April 27 (BusinessDesk) - Seeka's biggest shareholder Farmind Corp will cut its stake in the fruit grower to reduce the company's foreign ownership below the Overseas Investment Office screening threshold. At today's annual meeting, the Te Puke-based company told shareholders its Japanese investor Farmind will today transfer a 6.55 percent stake in Seeka to New Zealanders in an off-market trade to reduce the company's foreign shareholding base. Farmind owned 16 percent as at Dec. 31, making it Seeka's biggest shareholder,...

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