Oceana's trading update down, winds up Empowerment Trust

Oceana Group reported a significant decline in financial results for the five months ending February 23, 2025, compared to the previous year, primarily due to normalised global pricing for fishmeal and fish oil. Despite challenges, Lucky Star Foods saw a 5% sales volume increase. Oceana is winding up its Stakeholder Empowerment Trust, repurchasing its shares for a nominal amount, and donating any residual assets to the Oceana Maritime Academy. The repurchase will reduce Oceana's outstanding shares by 0.5%, from 130,431,804 to 129,779,645. Oceana's interim results for the six months ending March 31, 2025, will be released around June 9, 2025. The group's Employee Trust, established in 2021, remains in place.