Sea Harvest takes control with bigger Mareterram slice
SEA HARVEST Corporation, the hake fishing company controlled by empowerment group Brimstone, has gained control of Australian Securities Exchange-listed agribusiness Mareterram.Sea Harvest emerged as one of the anchor shareholders when Mareterram listed on the Australian Securities Exchange at the end of 2015. But earlier in 2016, Sea Harvest signalled an intention to bulk up its holding in Mareterram by making an offer to that company’s minority shareholders.Mareterram catches and processes king and tiger prawns out of Western Australia and operates a sales and marketing arm, mainly for seafood.Mareterram’s shares have largely traded in a narrow band since listing, peaking at 35 Australian cents in April after reaching a 27c low in March.According to a statement on Wednesday, Sea Harvest now holds 56% of Mareterram after shareholders accepted bids for shares worth about R200m.READ THIS: Working to bring small-scale fishers into conservation netSea Harvest CEO Felix Ratheb said Mare...
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