SAN
01/09/2015 09:50
GENERAL
NOT PRICE SENSITIVE
REL: 0950 HRS Sanford Limited
GENERAL: SAN: Sanford Limited - Continuous Disclosure
1 September 2015
NZX Announcement
Sanford Confirms Pacific Tuna Vessel Sale
As part of an ongoing strategic review of its business, Sanford management
reviewed the viability of the Company's Pacific Tuna business. Continuing
unsatisfactory returns driven by low prices and the strict commodity nature
of skipjack tuna coupled with ever increasing access costs to the fishery,
resulted in the decision to exit this business and offer the vessels for
sale.
This has culminated in the sale of the San Nanumea from the company's Pacific
Tuna Fleet.
Discussions with potential purchasers of the remaining Pacific Tuna vessel
San Nikunau are continuing.
Volker Kuntzsch
Chief Executive Officer
ENDS
The media contact for Sanford is Trish Sherson on 021 570 803 or e-mail
[email protected]
End CA:00269417 For:SAN Type:GENERAL Time:2015-09-01 09:50:39
