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Notice Of Meeting And Restraining Order

19 June 2002

Seafresh New Zealand Limited
Notice Of Meeting And Restraining Order

The Takeovers Panel met on 18 June 2002 to consider the recently announced purchase of 55.98 per cent of the shares in Seafresh New Zealand Limited by four buyers.

The buyers were Ms Kate Foot, Kooiman Investments Limited, Mr Bruce McCullough and Pisces Holdings Limited. The shares were sold by Lim Family Holdings Limited on or about 10 June 2002 by a private treaty.

The Panel considers that the buyers may not have acted or may not be acting or may intend not to act in compliance with the Takeovers Code by acquiring voting rights in Seafresh New Zealand Limited.

The Panel will meet to decide whether to exercise its powers under section 32 of the Takeovers Act 1993 at 9.00 a.m. at the Panel’s offices in Wellington on Wednesday 26 June 2002 . The meeting will be a private meeting.

The Panel has made an order restraining the four buyers from:
(a) acquiring securities in Seafresh New Zealand Limited, or any interest in or rights relating to such securities; and
(b) disposing of securities in Seafresh New Zealand Limited, or any interest in or rights relating to such securities; and
(b) exercising, either jointly or severally, the right to vote attached to securities in Seafresh New Zealand Limited or any other right relating to such securities.

This order expires at 5.00 p.m. on Friday 28 June 2002.
… ends …

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