Marine float soon
A new seafood-farming venture .will be floated next month. New Zealand Marine Farms, Ltd, will offer investors 3,750,000 ordinary shares at $1 at par. The issue’s proceeds will be used to develop and expand marine farming activities already began at four marine farm licence areas in the Marlborough Sounds and two salmon hatcheries. One is on the Hokitika River and the other on the Hurunui River. Two licence areas are already successful green lip mussel farms and sea-cage
rearing of quinnat salmon is also an established activity, the company says. The directors of the new company include Sir Ronald Scott, of Christchurch, >Mr Angus McNeill, a Nelson seafood processor and exporter and Mr Clive Cousins, a laywer of Christchurch. A number of companies are already raising ana fanning salmon in New Zealand,'ineluding New Zealand Salmon, Ltd (floated last year) BP New Zealand, Ltd, Skellerup Indus* tries, Ltd, Southland Frozen Meat, Ltd, Wattle Industries, Ltd, and Cerebos Greggs, Ltd.
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Press, 23 October 1984, Page 37
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161Marine float soon Press, 23 October 1984, Page 37
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