Seeka Limited (NZX: SEK) CLEARS FIRST HURDLE IN NZ FRUITS AMALGAMATION

Monday 20th December 2021

Seeka Limited (“NZX: SEK ”) advises that it has today completed its Due Diligence on New Zealand Fruits Limited (“NZ Fruits”), and the condition included in the Amalgamation Implementation Agreement announced on 10 December 2021 has been satisfied. The Seeka Board has considered the transaction further, and diligence reports, and has unanimously resolved to proceed with the proposed amalgamation.

The transaction still has conditions to be met, including the approval of 75% or more of NZ Fruits’ shareholders and to obtain any regulatory approvals (to the extent any are required).

Fred Hutchings, Seeka Chair, commented that the completion of due diligence and obtaining Seeka Board approval is a positive confirmation of confidence in the deal and the future of a combined business in the region. Seeka is looking forward to presenting Seeka and the offer to NZ Fruits shareholders.

Trevor Lupton, NZ Fruits Chair, stated that the amalgamation of NZ Fruits with Seeka is a positive move for the region given that Seeka has a proven track record in expanding its service offering and delivering competitive returns to its growers.

Please see the links below for details

Seeka - Clears First Hurdle on NZ Fruits Amalgamation - Dec 2021

Amalgamation Proposal - December 2021

Cleansing Notice - 20 December 2021

Source: Seeka Limited

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