Seafarms Group Limited announced that trading in its securities has been suspended as it finalizes an audit of its fiscal half-year report for the period ending 31 December 2025.
In a statement posted to the Australian Securities Exchange (ASX), Seafarms Group said it is finalizing the audit and that the suspension of trading will continue until that audit is complete.
“The company continues to work closely with its external auditors to complete the Half Year Report,” the announcement said.
Alongside the suspension of all trading, Seafarms said its performance at its Cardwell prawn farms has been “positive” with production in line with the company’s expectations. It added that export sales for fiscal year 2026 are ongoing.
It also said that it is still awaiting a court decision on funds currently held by a liquidator related to court cases the company lost regarding its shrimp farming plans for Project Sea Dragon, a subsidiary of Seafarms Group Limited.
An Australian court ordered the liquidation of Project Sea Dragon in February 2024 after finding Seafarms Group abused the Corporations Act in Australia. Attempts to appeal that ruling failed, resulting in Project Sea Dragon’s liquidation.
Since that time, Seafarms Group, under its subsidiary Sea Dragon Shrimp, has reacquired the assets of the project. However, the funding tied to that original liquidation is still held by the liquidator, and Seafarms Group has filed in court to gain access to the funds.
Outside the access to those funds, Seafarms Group said it is also engaging with “several parties” to get potential investors in Sea Dragon Shrimp.
