Statement From Chairman, Moana Pacific Fisheries

Statement From Craig Ellison Chairman, Moana Pacific Fisheries Limited

“Comments published in today’s Dominion Post and The Press attributed to the Chief Executive of Moana Pacific Fisheries, Mr Bruce Young, are not a reflection of comments actually made, taken out of context and creating completely the wrong impression.

“While the board of Moana Pacific has concerns over the aquaculture moratorium and the process of obtaining resource consents for marine farming, it is extremely supportive of the recent Court of Appeal decision allowing for the Maori Land Court to hear claims to the foreshore and seabed.

“The board has been made aware that our shareholder funded the litigation and assisted Iwi in the development of strategies that has recently resulted in the decision laid down by the Court of Appeal.

“The major obstacle to investment in the aquaculture sector in New Zealand is the current regulatory regime and compliance costs, both of which require immediate attention if investment in this sector and the creation of employment is to be achieved.

“Moreover, while the board has discussed various overseas investment opportunities, no decision has been made to move investment and expertise offshore, and this would only be pursued if it was in the interests of the company and our Maori shareholders.

“The board will make no further comment.”

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