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Thread: Seeka

  1. #291
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    Quote Originally Posted by iceman View Post
    Interesting interview on NBR yesterday with Seeka's CEO. He says that the 1st reason for the sale of their shares in Zespri is that they were unhappy with and voted against the recent changes to Zespri's constitution that they felt treated those leasing land for growing worse than the landowner. Bearing in mind that SEK is the biggest grower in NZ and most of it from leased land, that is understandable.
    He says once the constitutional changes went through, they then considered the best use of their capital would be to sell Zespri shares and put some in the bank to support current and future growth plans and rest to pay down debt.
    Yeah I read that article yesterday, sounds reasonable and I like the fact they talk about using the $ for future growth. I have a very tiny holding in SEK but will look at accum at the lows as I like the way this business as diversified itself. A few years of good crop would be ideal for me to hold.

  2. #292
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    The growth continues apace https://www.nzx.com/announcements/317017

  3. #293
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    Quote Originally Posted by iceman View Post
    The growth continues apace https://www.nzx.com/announcements/317017
    yep, happy holder!! - I wonder how they got on with the PSA class action. I have not seen any news on this since last year (maybe I missed something?)

  4. #294
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    https://www.stuff.co.nz/business/far...ifruit-exports

    could provide a bit of a boost for SEK eh....

  5. #295
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    Quote Originally Posted by Filthy View Post
    yep, happy holder!! - I wonder how they got on with the PSA class action. I have not seen any news on this since last year (maybe I missed something?)
    Seeka responds to Kiwifruit Claim Judgement
    The High Court of New Zealand today announced its decision in relation to the Claim by Strathboss Kiwifruit Limited (including a class action for kiwifruit growers) and Seeka Limited [NZX:SEK] for losses for kiwifruit post-harvest, in relation to the circumstances of the devastating outbreak of the PSA disease in New Zealand.
    The decision was in favour of growers for the growers’ loss, which includes Seeka as a grower. Seeka did not succeed in its claims as a post-harvest operator.
    While Seeka is disappointed by the decision in relation to the post-harvest losses, it confirms that it is a claimant alongside the growers and set to benefit in any final determination of damages.
    Seeka advises that the decision is still new, the appeal period still open and that it is too early to quantify the extent or likelihood of any outcome with any certainty to update the market.
    Seeka thanks the Claim Committee for their courage and dedication in taking the claim on behalf of growers and Seeka, the litigation funder LPF Group for backing the claim and to the legal counsel, Lee Salmon Long, for their service in representing the claimants.
    Seeka will update the market when any outcome if known with sufficient certainty.

  6. #296
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    Sounds like SEK has had quite a good kiwifruit harvesting season with just on 30 million trays packed, low early fruit loss and good quality fruit. Half already shipped and rest still in our stores.
    Meanwhile the 2nd stage of the acquisition of T&G Northland completed.
    Should be another good year for SEK.

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  8. #298
    Speedy Az winner69's Avatar
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    Hope they lose ....even the initial judgement creates a dangerous precedent
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #299
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    Quote Originally Posted by winner69 View Post
    Hope they lose ....even the initial judgement creates a dangerous precedent
    I hope by "they" you mean the Government / MPI ?

  10. #300
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    Quote Originally Posted by RTM View Post
    I hope by "they" you mean the Government / MPI ?
    Seeka of course .....and anybody else who thinks they can do the same.

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