Announcement
GENERAL: NZK: NZK Covid-19 Update
08:59am
NZK
27/03/2020 08:59
GENERAL
PRICE SENSITIVE
REL: 0859 HRS New Zealand King Salmon Investments Limited
GENERAL: NZK: NZK Covid-19 Update
27 March 2020
NZ King Salmon update on COVID-19 situation
New Zealand King Salmon Investments Limited (NZX and ASX:NZK) provides an
update on the most recent developments in the emerging Covid-19 situation.
The Government announced on March 23 that New Zealand would move to Alert
Level 4, the highest level of restrictions set by the Government to minimise
the spread of Covid-19.
As a farmer and processor of King salmon, NZ King Salmon operates within the
primary industry food producer category which has been included in the
Government's list of essential services. All companies need to complete the
Ministry for Primary Industry's strict Registration for Safe Practice
document to be able to operate over this period.
New Zealand consumers need a consistent supply of healthy protein and we are
well placed as a local, vertically integrated producer to do that. We can
reliably deliver to supermarkets during this time.
Our main priority is to ensure the safety of our team members. As a food
producer we already have full personal protective equipment and practices
which are specifically designed to prevent the transmission of disease. We
have also now implemented further stringent measures across all our sites,
including increased use of additional personal protective equipment,
splitting work teams, separation between shifts, and minimising other
interaction between team members. Team members who can work from home are
already doing so.
Our other priority as a farming business is to ensure the welfare of our
salmon. We continue to maintain our farming operations with similar
protective measures for team members across our fresh water and sea water
sites.
We know the next few weeks will be very challenging and we thank the team for
their tireless dedication.
Although the Covid-19 situation is dynamic, based on currently known factors,
we re-affirm the previously advised guidance for the FY20 year ended 30 June
2020, being a Pro Forma Operating EBITDA result of $25.0-28.5m.
Ends
About NZKS:
New Zealand King Salmon is the world's largest aquaculture producer of the
premium King salmon species. We operate under our four key brands: Ora King,
Regal, Southern Ocean, and Omega Plus, as well as the New Zealand King Salmon
label. We have been growing and selling salmon to consumers for more than 30
years. Today we employ around 500 people. New Zealand investors make up a
significant percentage of the ownership of NZ King Salmon and the communities
of Marlborough, Nelson Bays and Tasman are well represented with nearly 400
of the 2,800 shareholders from the Top of the South. More information can be
found at www.kingsalmon.co.nz
End CA:00350778 For:NZK Type:GENERAL Time:2020-03-27 08:59:01
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