Oceana Group

Friday, August 29th, 2014,

Investors

Oceana Group Limited's 2013 Integrated Report provides material information relating to the group's strategy, governance practices and performance for the financial year ended 30 September 2013

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Calamari Fishing

Oceana Group

The Lobster, Squid and French Fries divisions includes three SBUs, which share a number of similar attributes in processing and marketing, and where synergies in administration make management more effective and the businesses more profitable. The division is internationally respected as a reliable producer and exporter of prime quality live and frozen South African rock lobster and frozen squid product and produces and markets value added potato products through Lamberts Bay Foods.

Oceana Group

Oceana conducts its squid operations through its subsidiary, Calamari Fishing (Pty) Limited (Calamari Fishing), based in Port Elizabeth.

Species: Loligo reynaudi (South African squid)

South African Squid is characterised by an elongated mantle with fins which are rhomboidal in shape and longer than broad. The arms are short, tentacles are long, the clubs are expanded and club suckers are greatly enlarged.

A fleet of five freezer vessels catch and sea-freeze Loligo Reynaudi squid. These vessels are fitted with sophisticated temperature analysing equipment, sonar plotters, on-board processing, packing and blast freezing equipment. The squid are caught by hand-line jig method and immediately blast frozen at sea. The product is then landed to our HACCP-accredited factory at Port Elizabeth on South Africa's East Coast to be boxed and sold to Europe and Japan.

Four of Calamari Fishing's vessels have converted their on-board sea freezing process to IQF (individual quick frozen) for squid. Shortly after being caught, individual squid are placed on a tray to be blast frozen to -30 degrees. On arrival at the port the landings are graded, glazed and boxed, ready for distribution to market. Instead of the alternative practice of freezing landings into blocks of conjoined fish, the IQF process results in a high-quality product which lends itself to managed use by retailers and consumers.

Production Process

Fleet

A fleet of five freezer vessels catch and sea-freeze Loligo reynaudi squid. These vessels are fitted with sophisticated temperature, analysing equipment, sonar plotters, on-board processing, packing and blast freezing equipment.

Fishing

Caught between Cape Town and Durban, mainly in the Eastern Cape (FAO47), the squid are caught by handline jig method and immediately blast frozen at sea.

Production

The product is then landed to an HACCP-accredited factory at Port Elizabeth on South Africa’s East Coast to be boxed and sold to Europe and Japan.

Markets

Italy; Spain; Portugal; Greece; Japan

Season

End November to mid-October

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