Australia’s Oyster Coast Ltd held its Annual General Meeting today in Narooma. Chairman, David Trebeck, announced the Board’s decision to enter into a joint venture with private investors to establish a farm asset holding company. Mr Trebeck assured grower shareholders that the company’s supply policy will enable them to supply the majority of the company’s requirements if they so desire. “We expect that participation in the joint venture will augment rather than replace supply from existing grower shareholders. It will also enhance the profitability of Australia’s Oyster Coast Ltd by underwriting supply as we increase sales, as well as by being a profitable investment in its own right,” Mr Trebeck said.
In addition, three new directors were elected to the Board including oyster growers, Warwick Anderson from Wapengo Lake and Pippa Boyton of Merimbula, as well as John Susman, director of Fishtales, an Australian seafood industry agency.