29 Jun 2016

Companies Office clears Silver Fern Farms over Chinese deal

12:58 pm on 29 June 2016

Silver Fern Farms say the Companies Office has confirmed that there is no evidence that the board acted in anything other than good faith and in the best interests of the company.

Silver Fern Farms chairman Rob Hewett (right) and chief executive Dean Hamilton, at today's press conference at the company's Dunedin headquarters.

Silver Fern Farms chairman Rob Hewett (right) and chief executive Dean Hamilton. Photo: Radio NZ / Ian Telfer

The complaints to the regulatory body related to documents Silver Fern Farms released to its shareholders and about the resolution approving the deal with Shanghai Maling, which had 80 percent support from shareholders.

Last month the Financial Markets Authority decided not to take action over the complaints, saying the company's notice of meeting and shareholder pack was not misleading or deceptive.

Silver Fern Farms chairman Rob Hewett said the decision of the Registrar of the Companies Office supported the position they had consistently taken on the complaints.

Mr Hewett said the allegations had been proven to be unfounded.

Silver Fern Farms is yet to announce a new deadline for its deal with Shanghai Maling after not meeting the 30 June deadline decided in October.

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