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Share Halt for Cell Aquaculture

by Ellen Hardy
02 June 2008, at 1:00am

AUSTRALIA - Cell Aquaculture Ltd has called a trading halt on its shares while details of the company's loan application with Malaysian federal agriculture bank, Agro Bank, are clarified.

In January this year Cell Aquaculture signed a memorandum of understanding with ASSAR Fishery Sdn Bhd (ASSAR) based in Kuching, Sarawak, Malaysia to enter a joint venture to build and manage a 700 tonne barramundi aquaculture production facility using Cell’s proprietary technology.

ASSAR is the subsidiary of a company linked to the Sarawak state government. It has a successful track record in a range of businesses including financial services, property development, technology, manufacturing and trading.

Now, according to the news organisation NineMSN Cell Aquaculture has requested the trading halt for at least two days.

On May 6, Cell Aquaculture said it had made funding applications with Agro Bank to help advance the company's operations in Malaysia.

Australian company, Cell Aquaculture Ltd, has developed the "Cell" System - a land based recirculating aquaculture system that delivers premium seafood consistently throughout the year in what the company describes as an environmentally responsible manner.

View the NineMSN story by clicking here.

Ellen Hardy