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Seafarms Group Limited (ASX:SFG) announced that substantial holder Gabor Holdings Pty Ltd and its associates have reduced their combined voting interest in the aquaculture company from 27.48% to 24.80%. This decrease follows multiple share transactions, including two significant off-market sales on 29 June 2026 that together sold over 218 million ordinary shares. This change marks a notable adjustment in the ownership structure of one of Australia's prawn farming enterprises and will likely attract attention from shareholders tracking major investor activity. The notice was submitted to the exchange on 2 July 2026 and signed by director Ian Norman Trahar.
Key Points
- Company: Seafarms Group Limited (ASX:SFG)
- Substantial holder Gabor Holdings Pty Ltd and associates reduced voting power from 27.48% to 24.80%
- Two off-market sales on 29 June 2026 disposed of about 218.25 million ordinary shares for roughly $436,494 in total
- Gabor Holdings group's total shareholding now stands at approximately 1.199 billion ordinary shares across six related entities
- Avatar Industries Pty Ltd is the largest single holder within the group, owning about 873.3 million shares or 18.06% of Capital/">Issued Capital
- Investors should monitor for further substantial holder disclosures and the company’s response to the altered ownership structure
Gabor Holdings Group Voting Interest Declines by Nearly Three Percentage Points to 24.80%
Per the Form 604 notice filed on 2 July 2026, Gabor Holdings Pty Ltd and its associates currently hold an interest in approximately 1,199,617,183 fully paid ordinary shares of Seafarms Group Limited, representing 24.80% of the company’s voting capital. This contrasts with the prior substantial holder notice dated 9 January 2023, which recorded 1,316,616,676 shares or 27.48% voting power.
The roughly 2.68 percentage point drop is significant given the company’s closely held share register. Both notices use the same issued capital base of 4,836,599,179 fully paid ordinary shares, indicating the decline is due solely to share disposals rather than any new capital issuance. The notice was signed by director Ian Norman Trahar and dated 2 July 2026.
Majority of Stake Reduction Driven by Two Off-Market Sales on 29 June 2026
The main transactions causing the decrease were two off-market sales on 29 June 2026. The Tricorp Trust sold 197,230,722 ordinary shares for $394,461.44, while Gabor Holdings Pty Ltd sold 21,016,472 shares for $42,032.94. Combined, these sales disposed of approximately 218,247,194 shares for total proceeds near $436,494.38.
The notice does not disclose the buyers or the per-share price beyond the total amounts. Given the off-market nature, these were likely private negotiations rather than open market trades, though the company has not revealed the counterparties.
Earlier On-Market Acquisitions by Avatar Industries in Early 2024 Also Noted
The Form 604 also records two earlier on-market purchases by Avatar Industries Pty Ltd: 6,115,294 shares on 29 February 2024 for $24,730.21 and 145,820 shares on 8 March 2024 for $477.35.
These acquisitions, predating the June 2026 disposals by over two years, increased the group’s holdings at that time. Compared to the large off-market sales in 2026, these purchases were modest, indicating an overall net reduction in the group’s stake since the January 2023 notice. No strategic reasoning was disclosed for either the purchases or the sales.
Avatar Industries Pty Ltd Holds Largest Individual Stake at 18.06%
The current relevant interests section shows the Gabor Holdings group’s total shares spread across six entities. Avatar Industries Pty Ltd is the largest single holder with 873,322,202 shares, representing 18.06% of issued capital. Avatar Finance Pty Ltd holds the second-largest position with 321,818,182 shares or 6.65%.
The other four entities—Zeppelin Pty Ltd (1,184,628 shares, 0.02%), Arlec Australia Pty Ltd (795,748 shares held in trust for Gabor Holdings Pty Ltd, 0.02%), Ian Norman Trahar personally (1,668,191 shares, 0.03%), and Gabor Investments Pty Ltd (828,232 shares, 0.02%)—hold smaller stakes. All six share the same registered address at PO Box 7312, Cloisters Square, Western Australia, reflecting their association within the Gabor Holdings group.
Trust Arrangement for Arlec Australia’s Shareholding Within the Group
Notably, Arlec Australia Pty Ltd holds 795,748 shares as registered holder but these are held in trust for Gabor Holdings Pty Ltd, which is entitled to be registered as the holder. This trust structure is clearly disclosed in the Form 604 and is a common practice for intra-group shareholdings.
Other entities—Zeppelin Pty Ltd, Gabor Investments Pty Ltd, Avatar Industries Pty Ltd, and Avatar Finance Pty Ltd—are both registered holders and entitled holders, indicating direct ownership. Ian Norman Trahar’s personal holding is also direct. No changes in association among group members were reported.
Implications of Stake Reduction on Seafarms Group’s Shareholder Concentration
Before the June 2026 sales, the Gabor Holdings group owned over one-quarter of Seafarms Group’s shares. After the disposals, their stake is about one-quarter but remains above the 20% threshold defining a substantial holding under Australian law. This status allows them significant influence over ordinary resolutions requiring a simple majority but does not grant veto power over special resolutions needing 75% approval.
The reduction may attract attention from institutional and sophisticated investors who track major shareholder movements in small-cap ASX-listed companies. The notice does not clarify whether these sales represent a partial exit, portfolio rebalancing, or a prelude to further disposals. Seafarms Group’s board or management has not provided commentary on the transactions.
Seafarms Group’s Role as an ASX-Listed Aquaculture Operator
Seafarms Group Limited is an ASX-listed entity specializing in aquaculture, particularly prawn farming in Australia. It is linked to Project Sea Dragon, a large-scale tropical prawn farming initiative in the Northern Territory that has attracted investor focus. This update does not include any operational, financial, or project status information.
Investors know that Seafarms Group’s operational and financial performance has been closely watched in recent years. The change in Gabor Holdings’ stake reflects secondary market transactions in existing shares and does not indicate any change in the company’s operational or financial position.
Regulatory Requirements for Form 604 Substantial Holder Notifications
The notice complies with Section 671B of the Corporations Act 2001, which mandates that any person or group holding 5% or more of voting shares must notify the company and exchange when their holding changes by 1% or more. The 2.68 percentage point drop from 27.48% to 24.80% triggered this disclosure.
The previous notice was filed on 9 January 2023, indicating over three years between disclosures. The intervening period saw only four transactions: two small on-market purchases in early 2024 and two large off-market sales in June 2026. The current notice was dated 2 July 2026, three days after the triggering sales, consistent with prompt disclosure requirements.
Investor Insights Following Gabor Holdings’ Partial Stake Reduction
For retail and institutional investors, the reduction in Gabor Holdings’ stake is a significant event to watch. A major shareholder’s decreased position can sometimes signal changing confidence or strategy, though caution is advised before drawing conclusions from a single filing. The notice does not state the group’s future intentions regarding its remaining 24.80% stake.
The immediate impact on Seafarms Group’s share price was unclear based on available information. Investors interested in the implications for the company’s capital structure, governance, or strategy should monitor forthcoming announcements for any management or board commentary. Future Form 604 filings will indicate whether Gabor Holdings continues adjusting its position or maintains its current level.
