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Clean Seas Tuna Ltd Announces Rights Issue To Fund Increase In Yellowtail Kingfish Production


Wednesday, 20 Mar 2013 06:34pm EDT 

Clean Seas Tuna Ltd announced that it is undertaking a renounceable entitlement issue of three fully paid ordinary shares in the Company (Shares) for every five Shares held by eligible shareholders at an issue price of AUD0.012 per Share to raise up to AUD3,607,907 (based on the number of Shares on issue as at the date of the Prospectus) (Rights Issue). The funds raised will be applied principally to developing the commercial grow out and sale of Yellowtail Kingfish. The Rights Issue comprises three new Shares for every five existing Shares held by existing eligible shareholders at AUD0.012 per Share. The Rights Issue will be offered to eligible shareholders, being shareholders who are on the Company’s register with an Australian or New Zealand address, at the close of business on the record date, which is expected to be on or about April 3, 2013. As the Rights Issue is renounceable, the rights may be transferred or sold. Up to approximately 300,658,898 Shares will be issued pursuant to the Rights Issue. Shares issued under the Rights Issue will rank equally with Shares which the Company currently has on issue. It is intended that the Rights Issue is to be partially underwritten to AUD1.8 million. The Company is in the process of finalising certain terms and conditions of an underwriting agreement with Patersons Securities Limited. Patersons is also acting as Lead Manager to the Rights Issue. 

Company Quote

0.063
0.0010 +1.61%
21 Aug 2014