Monday, 27 June 2016 11:25

SFF and Shanghai Maling finalising extension for OIO approval

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SFF chief executive Dean Hamilton.

Silver Fern Farms and Shanghai Maling say they are contining to work towards completion of the $261m investment and partnership.

With more time required to meet information requests from the Overseas Investment Office (OIO), the companies are in the process of agreeing an extension to the June 30, 2016 date to meet the OIO approval condition.

Chief executive Dean Hamilton says: "We continue to believe that we will achieve OIO approval, however we need to allow more time to provide the required information and then for the OIO and Ministers to have sufficient time to review".

As a consequence of the anticipated extension, the July 11 special meeting has been deferred and a new date for the shareholder requisitioned meeting will be set to allow the Notice of Meeting to be updated and distributed to shareholders with adequate time to review.

Silver Fern Farms says shareholders will be kept informed.

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