Clean Seas Tuna issue at $1.35

The Fish Site
by The Fish Site
9 November 2007, at 12:00am

AUSTRALIA - ASX listed aquaculture company, Clean Seas Tuna has announced a $33 million-plus equity rising.

Simplot Australia, owner of John West will join the share register.

The equity raising comprises a non-renounceable 1 for 8 rights issue and an institutional placement, both at $1.35 per share.

The purpose of the placement the issue is to secure sufficient funding to acquire Clean Seas Aquaculture Growout and to further grow the business. The purchase of CSAG is subject to shareholder approval on 20 November.