Perth-based seafood company Australis Aquaculture Ltd has raised $11.3 million through a placement and share purchase plan to fund the acquisition of Vietnamese farming production assets and an upgrade of its US infrastructure.
The full text of a company announcement is pasted below
Australis Aquaculture (ASX: AAQ) is pleased to announce that further to the shareholder meeting on Friday 27 July 2007, it has completed the placement of 9,439,415 shares at 50 cents. This together with the July 2007 share purchase plan and the June 2007 institutional and wholesale placement has raised AUD$11.265m.
The placement was managed through StateOne Stockbroking Limited in Perth.
The fundraising is part of the strategic plan for the company which, for the past three years, has embarked on an aggressive program to introduce barramundi to North American markets and to grow it at large commercial volumes.
Secondary Trading Exemption
The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. By the Company giving this notice, sale of the Securities noted above will fall within the exemption in
section 708A(5) of the Act.
The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:
a) the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;
b) as at 1 August 2007 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and
c) as at 1 August 2007 there is no information:
(i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
Australis Aquaculture Limited
(ii) that investors and their professional advisers would reasonably require for the purpose of making an informed
assessment of:
1) the assets and liabilities, financial position and performance, profits and losses and prospects of the
Company; or
2) the rights and liabilities attaching to the Securities.
