AUS
NZ
UK
CA
USA
IND
Gabor Holdings Pty Ltd along with its associated entities has decreased its significant shareholding in Seafarms Group Limited (ASX:SFG) from 27.48% down to 24.80%. This adjustment follows a combination of on-market purchases and off-market sales conducted between early 2024 and late June 2026. The primary reason for the reduction was two major off-market sales exceeding 218 million ordinary shares executed on 29 June 2026 by The Tricorp Trust and Gabor Holdings Pty Ltd. The alteration in voting power was formally reported in a Form 604 Notice of Change of Interests of Substantial Holder, lodged on 2 July 2026 and signed by director Ian Norman Trahar. Investors in Seafarms Group should monitor this development closely, as changes by a substantial holder of this magnitude may indicate evolving shareholder sentiment or strategic shifts among key stakeholders.
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%
- Off-market sales on 29 June 2026 involved 197,230,722 shares sold by The Tricorp Trust for $394,461.44 and 21,016,472 shares sold by Gabor Holdings Pty Ltd for $42,032.94
- Gabor Holdings group now holds 1,199,617,183 ordinary shares out of 4,836,599,179 fully paid ordinary shares issued
- Notice signed by director Ian Norman Trahar, dated 2 July 2026
- Investors should watch for further changes in the substantial holder’s position and any related company updates on Seafarms Group’s shareholder base
Details of Gabor Holdings’ Voting Power Decline from 27.48% to 24.80%
The reduction in Gabor Holdings’ substantial holding in Seafarms Group represents a net decrease of roughly 116,999,493 ordinary shares since the last notice filed on 9 January 2023. At that time, the group held 1,316,616,676 shares, equal to 27.48% of voting power based on the unchanged issued capital of 4,836,599,179 fully paid ordinary shares. The current notice shows the holding at 1,199,617,183 shares, corresponding to 24.80% voting power on the same issued capital base. Although Avatar Industries Pty Ltd, an associate, acquired 6,261,114 shares via on-market purchases in February and March 2024 for approximately $25,207.56, these gains were outweighed by the substantial off-market disposals in June 2026, resulting in a significant reduction in the group’s register presence.
Off-Market Sales on 29 June 2026 Prompting Disclosure
The key factor behind the change was two off-market sales conducted on 29 June 2026. The Tricorp Trust sold 197,230,722 ordinary shares for $394,461.44, implying a per-share price near $0.002. Gabor Holdings Pty Ltd sold 21,016,472 shares for $42,032.94 at a similar price point. Together, these transactions disposed of 218,247,194 shares for a total of $436,494.38. This volume of sales reduced the group’s voting power below the prior threshold, triggering the requirement to lodge an updated Form 604 under Section 671B of the Corporations Act 2001. The previous substantial holding notice had been submitted over three years earlier, on 9 January 2023.
Avatar Industries Pty Ltd Remains Largest Holder Within the Group
Despite the overall decrease, Avatar Industries Pty Ltd continues as the largest single shareholder within the Gabor Holdings network. The current relevant interests table shows Avatar Industries holding 873,322,202 ordinary shares directly, representing 18.06% of total voting power. This entity forms the core of the group’s exposure to Seafarms Group.
The next largest holding is Avatar Finance Pty Ltd with 321,818,182 shares (6.65% voting power). Combined, these two entities hold approximately 24.71 percentage points of the group’s total 24.80% stake. Smaller holdings include Ian Norman Trahar with 1,668,191 shares (0.03%), Zeppelin Pty Ltd with 1,184,628 shares (0.02%), Gabor Investments Pty Ltd with 828,232 shares (0.02%), and Arlec Australia Pty Ltd holding 795,748 shares in trust for Gabor Holdings Pty Ltd (0.02%).
Director Ian Norman Trahar Signs Notice and Holds Shares
The Form 604 was signed by Ian Norman Trahar as director on 2 July 2026. Trahar also holds 1,668,191 shares personally. All entities listed, including Zeppelin Pty Ltd, Arlec Australia Pty Ltd, Gabor Investments Pty Ltd, Avatar Industries Pty Ltd, and Avatar Finance Pty Ltd, share the registered address at PO Box 7312, Cloisters Square, WA 6850, indicating a closely linked group operating under common management.
No changes in the nature of association among these entities were reported; the Form 604’s changes in association section records "N/A," suggesting the voting power shift is solely due to share disposals rather than structural or control changes.
On-Market Purchases by Avatar Industries in Early 2024 Preceded Large Disposals
Prior to the June 2026 off-market sales, Avatar Industries Pty Ltd made two on-market purchases in early 2024: 6,115,294 shares on 29 February 2024 for $24,730.21 and 145,820 shares on 8 March 2024 for $477.35, totaling 6,261,114 shares at about $25,207.56. These modest acquisitions were insufficient to offset the later large-scale sales. The company update does not disclose reasons for these purchases or future intentions regarding the remaining 24.80% stake.
Implied Share Prices Suggest Low Valuation for Seafarms Group Shares
Although the update does not specify explicit per-share prices, the disclosed consideration implies approximately $0.002 per share for both the Tricorp Trust and Gabor Holdings sales. Such low nominal values are consistent with large share registers trading at sub-cent prices. The update does not reveal the buyer identities or the basis for the off-market pricing. Investors seeking clarity on market context should consult contemporaneous trading data or further disclosures. The immediate impact on share price is not evident from public information.
Seafarms Group’s Capital Structure and Its Effect on Shareholder Influence
The issued capital remains steady at 4,836,599,179 fully paid ordinary shares between January 2023 and July 2026. Gabor Holdings and associates remain the largest substantial holder by a wide margin. Holding 24.80% grants considerable influence over ordinary resolutions, which require a simple majority. However, the reduction from 27.48% moves the group further below the 25% blocking stake relevant for special resolutions requiring 75% approval. The company update does not indicate whether the group plans to maintain, increase, or further reduce its stake.
Regulatory Requirements for Substantial Holder Disclosure
This Form 604 filing complies with Section 671B of the Corporations Act 2001, which mandates that holders of 5% or more of voting shares notify the company within two business days of any change in voting power exceeding 1%. The approximately 2.68 percentage point decline from 27.48% to 24.80% clearly meets this threshold. The prior notice dated January 2023 and the inclusion of transactions from February 2024 indicate that earlier on-market purchases did not individually or cumulatively shift voting power by 1%. The large June 2026 off-market sales triggered this updated disclosure.
Investor Considerations Following the Disclosure
Investors should consider whether Gabor Holdings and its associates will continue to reduce their stake, maintain the current 24.80%, or seek to increase their holdings. The Form 604 notice does not provide forward-looking statements or strategic intentions. No specific conclusions should be drawn from the off-market sales without further information from Seafarms Group or the substantial holder group.
Future filings of Form 604 or Form 603 by Gabor Holdings or associates indicating a 1% or greater voting power change will be important to monitor. Additionally, investors should watch Seafarms Group’s company announcements for updates on operational performance, capital structure, or corporate strategy that may affect shareholder composition. The recent company update is limited to statutory disclosure and does not comment on business outlook.
