NAMIBIAN FISHING INDUSTRIES LIMITED
Namfish, the diversified Namibian fishing group, announced that the process
surrounding the renewal of its fishing rights has been completed. Agreements
with voluntary partners in terms of the flexible fishing policy of the Ministry
of Fisheries have been concluded and utilization of these rights commenced
during January 2001.
The inclusion of voluntary partners in the various operational structures of
the group have been a challenge but Namfish is confident that the structures
that have been put in place will enable their partners to participate in the
joint ventures and to contribute to their success.
The hake and monk concessions of the group have been renewed for a further
seven years till 31 December 2007, subject to the inclusion of voluntary
partners in the operating structures. The tuna and hake longline licences of
the group were not renewed.
Eric Knouwds, the chairman of Namfish, said that hake fishing in the last
quarter of 2000 was poor and that he was expecting headline earnings per share
to be approximately the same for 2000 as for the previous year.
Regarding the new financial year and the future, Knouwds commented that
Namfish's reduced economic interest in the fishing rights would impact on the
level of earnings. He was hopeful however, that higher quota allocations to
Namfish and its partners would help to offset this.
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