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SEAFARMS GROUP LIMITED (SFG)

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ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
SEAFARMS GROUP LIMITED24/03/2015
COMMODITIES GROUP LIMITED18/03/201424/03/2015
CO2 GROUP LIMITED07/09/200418/03/2014
REVESCO GROUP LIMITED14/12/200107/09/2004
MARYMIA EXPLORATION NL14/12/2001

Shareholder links

Our website ranking of SFG: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Computershare Perth
Level 17, 221 St Georges Terrace, Perth WA 6000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000SFG1
Address: Unit 5, 3 Swan Crescent Winnellie Northern Territory
Tel:  +61 8 9216 5200Fax: +61 8 9216 5199

Date first listed: 14/06/1990

Sector: Food Beverage & Tobacco Industry Group: XNJ
Activities: Shrimp Aquaculture

News & Events

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The suspension of the company's securities is expected to be lifted from the commencement of trading on 27 March 2023 following the release by SFG of an announcement regarding the DOCA in respect of Project Sea Dragon.

24/03/2023

The DOCA in respect of Project Sea Dragon was entered into on 24 March 2023. SFG has agreed to make a contribution of $3.5M which it will fund from cash reserves. The DOCA is expected to be effectuated on or about 28 April 2023. Control of the Project Sea Dragon has now returned to the directors.

24/03/2023

Today at the second creditors meeting of Project Sea Dragon Pty Ltd, the creditors approved the entry into a Deed of Company Arrangement, a position which in the opinion of Administrators (Shaun McKinnon & Andrew Fielding, BDO) was in the best interest of creditors. A key objective of the DOCA is to facilitate and expedite a distribution of a deed fund contribution of $3.5 million to be made by the Company's parent, Seafarms Group Limited as follows: 100 cents in the dollar to employees 100 cents for Small Claim Creditors (being creditors with amounts owed less than $0.3m) Balance of funds to be distributed to non Small Claim Creditors, which has been estimated at between 10.11c/$ and 11.12c/$ Landlords and PPSR Creditors do not claim in the DOCA and the Company's obligations are met in the ordinary course of business post DOCA acceptance. The DOCA proposal results in all classes of creditors receiving more than is estimated to be returned in a liquidation scenario. The Company, SFG and the Administrators are now to enter into the Deed of Company Arrangement within 15 days. In terms of lifting the suspension of quotation, SFG is targeting a date of 5 April 2023. Control of roject Sea Dragon Pty Ltd has returned to the directors upon the entry into the Deed of Company Arrangement. No jobs were lost and the operations at Exmouth continued successfully throughout the Administration period.

21/03/2023

The company lodges its 2022 Half Year Report.

28/02/2023

The directors of Project Sea Dragon Pty Ltd (a wholly owned entity of SFG) placed Project Sea Dragon into voluntary administration after the withdrawal of funding by Seafarms. The Directors of Project Sea Dragon have appointed Shaun McKinnon and Andrew Fielding of BDO Business Restructuring Pty Ltd to act as voluntary administrators of the companies associated with Project Sea Dragon. The Directors of Seafarms intend to propose a Deed of Company Arrangement to the creditors of Project Sea Dragon.

15/02/2023

The securities of Seafarms Group Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SFG, in connection with the appointment of a voluntary administrator to Project Sea Dragon Pty Ltd.

14/02/2023

The suspension of trading in the securities of Seafarms Group Limited will be lifted from the commencement of trading on Tuesday, 1 November 2022 following lodgement of its annual report for the period ended 30 June 2022

31/10/2022

The company releases its Appendix 4G and Corporate Governance Statement.

31/10/2022

The company lodges its Appendix 4E Final Annual Report 2022.

31/10/2022

Seafarms has today been temporarily suspended from trading on the ASX due to unresolved matters, including a recently received claim relating to a cancelled construction contract. This claim was received subsequent to the release of the preliminary financial results. Seafarms is currently assessing the claims that have been raised. Seafarms initial assessment of the claim is that it will not impact its ability to pay its debts as and when they become due and payable. The company is not in a position to release its financial report to ASX on or before 30 September 2022. The inability to finalise the accounts is principally a matter of timing. The company is working to resolve the outstanding matters as quickly as practicable.

29/09/2022

The securities of Yandal Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of YRL, pending the release of an announcement regarding an application with the Federal Court of Australia or Supreme Court of Western Australia seeking declaratory relief and ancillary orders relating to prior trading in shares, and an announcement pertaining to the capital raise.

29/09/2022

The suspension of trading in the securities of Seafarms Group Limited will be lifted immediately following the release by SFG of an announcement regarding project costs.

12/10/2021

A$95 million of construction works at Legune awarded to head contractor, Canstruct, and Construction is progressing. The Company's re-forecast capital cost estimate is A$370 million to A$410 million (including escalation and contingency). The Company's best estimate at the date of this announcement is toward the lower end of this range. Construction debt facility progressing with agreements targeted for Q4 2021. Work at Legune is making progress in line with schedule.

12/10/2021

The securities of Seafarms Group Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SFG, pending the release of an announcement regarding project costs.

11/10/2021

The suspension of trading in the securities of Seafarms Group Limited will be lifted from the commencement of trading on Friday, 27 March 2020, following the release by SFG of an announcement regarding a capital raising

27/03/2020

The company provides an update on the number of securities issued under the company's LR 7.1 capacity.

27/03/2020

Seafarms Group has raised A$12.5 million under a placement to institutional and professional investors. The Placement is considered prudent given current market volatility and the company's desire to continue to progress with the development of Project Sea Dragon. Seafarms Group's major shareholder, Mr Ian Trahar will participate in the Placement, subject to shareholder approval.

27/03/2020

The company releases a notice of Proposed issue of Securities - SFG.

25/03/2020

The securities of Seafarms Group Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SFG, pending the release of an announcement regarding a capital raising.

25/03/2020

name changed from Commodities Group Limited

24/03/2015

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    08/03/2024Ian Trahar145,820$0.003$477
    29/02/2024Ian Trahar6,115,294$0.004$24,730
    30/01/2023Ian Trahar45,454,545$0.007$327,273
    08/04/2022Ian Trahar49,532,042$0.017$816,792
    02/03/2017Harley Whitcombe135,000$0.078$10,550

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Ian TraharNon Exec Chairman13/11/2001
    Peter FraserCEO22/03/2024
    Ian LeijerCFO20/05/2022
    Rod DyerNon Exec Director20/05/2022
    Harley WhitcombeDirector12/11/2001
    Ian BrannanCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Terutaka KuraishiNon Exec Director20/05/202213/04/2023
    Hisami SakaiAlternate Director07/08/201813/04/2023
    Naoto SatoAlternate Director07/08/201822/05/2022
    Ian BrannanExecutive Director, CFO20/09/202120/05/2022
    Mick McMahonExecutive Chairman, CEO20/09/202106/05/2022
    Paul FavrettoNon Exec Director18/12/200728/01/2022
    Chris MitchellExecutive Director28/07/200530/11/2021
    Andrew GrantCEO, Executive Director27/01/200622/01/2014
    Mal HemmerlingNon Exec Director04/07/200526/07/2013

    Date of first appointment, title may have changed.