Seeka Limited [NZX:SEK] advises that the amalgamation with Opotiki Packing and Cool Storage Limited [“OPAC”] has been successfully completed and OPAC is now a wholly owned subsidiary of Seeka and OPAC shareholders will all become shareholders in Seeka.
All conditions of the $59m transaction were satisfied including; the overwhelming shareholder support of both companies; support of OPAC growers and banking support from Westpac.
Seeka has issued 7,042,574 new shares to OPAC shareholders and assumed $25.09m of OPAC debt.
Seeka now moves into an integration phase to align the business processes of OPAC with Seeka. The immediate focus of management is to complete a safe and successful harvest.
Seeka thanks the advisers and due diligence partners on behalf of both companies on the successful completion of this transaction.
Michael Franks Stuart McKinstry
Seeka Chief Executive Seeka Chief Financial Officer
021 356 516 021 221 5583
Seeka Key
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