Chamwe Kaira
Oceana Group Limited has received formal notice that clients of Allan Gray have increased their stake in the company. The asset manager’s clients now hold 10.34% of Oceana’s total issued ordinary shares. The company shared this update in a statement issued to shareholders.
“Shareholders are hereby advised that Oceana has received formal notification that clients of Allan Gray have, in aggregate, acquired an interest in the ordinary shares of the company, such that the total interest in the ordinary shares of the company held by Allan Gray’s clients now amounts to 10.34% of the total issued ordinary shares of the company. The company has filed the required notices with the Takeover Regulation Panel. The board of directors of Oceana accepts responsibility for the information contained in this announcement accurate,” the company said.
Oceana operates across South Africa and Namibia. It exports hake, lobster, squid, and horse mackerel through the Oceana Brand under the Blue Continent entity. In Namibia, horse mackerel is caught by Erongo Marine Enterprises and exported through the Erongo Marine Brand.
For the year ended 30 September 2024, Oceana reported a 9.5% increase in operating profit to N$1.63 billion. The board declared a full-year dividend of 495 cents.
Lucky Star products maintained strong sales despite pressure on consumers. Annual volumes reached 9.3 million cartons, slightly below the 2023 record of 9.6 million cartons.
A breakdown on the Desert Diamond vessel reduced sea days and affected horse mackerel operations. In Namibia, rising costs and lower catch rates further impacted performance.
In 2024, Namibia cut its Total Allowable Catch for a second year to support sustainability. Oceana said the country’s strategy to auction a large portion of the quota affects its ability to secure economically viable volumes.
The company is working to strengthen relationships with rights holders in South Africa and Namibia to build long-term partnerships.
