The NZX-listed NZ Farming Systems is advising the investors not to sell off their shares now, which are being offered at 55c each, by Singapore-listed Olam International that possesses 18.45% stake in the former.

But, the idea of holding the shares back has been opposed by the board of Farming Systems as told by John Parker, the Chairman of the Company.

He added that the recommendations and suggestions from the board will be disclosed in the Company's statement, on August 23. There are certain comments and statements in the offer document from Olam that are not supported by the board.

Parker said, "These will also be addressed in the target company statement, along with independent commentary and valuation advice from Grant Samuel, which has been appointed independent adviser".

Under the Overseas Investment Act 2005, Olam has been given the nod to acquire an additional 11.5% stake in NZ Farming Systems, which was originated by PGG Wrightson. The stake can be taken only if the 50% of the board members vote in favor of the same.

The minimum price to trade the offer at 55c per share will loom till September 24. As told by Olam, the price has been kept at a premium of 37.5%, calculated on the basis of three-month volume-weighted average price.