Re: AAQ - Australis Aquaculture
Substantial shareholders
Acorn Capital Limited 8,140,000 14.02
Drumfrochar Pty Ltd 3,160,000 5.17
Bulleen Pty Ltd <G S Graham Family A/C> 7,900,000 13.10
Recent press article WA Business News
Perth-based seafood company Australis Aquaculture Ltd aims to raise $10 million through a placement and share issue to fund the acquisition of Vietnamese farming production assets and an upgrade of its US supply and distribution infrastructure.
The company has issued 16 million ordinary shares at 50 cents each in a placement to raise $8 million, with $3.3 million worth to be placed immediately. The remaining shares will be placed subject to shareholder approval.
Australis will also raise up to $2 million through a share purchase plan, offering its shareholders the right to purchase up to $5000 of ordinary shares at 50 cents each.
Ann
Australis Aquaculture Ltd is pleased to announce that it has received commitments from institutional, sophisticated and professional investors for a placement of $8,000,000, comprising 16,000,000 ordinary shares at an issue price of $0.50 per share. Placement of $3,280,293.50 (6,560,585 shares) will be completed immediately under the company's 15 per cent capacity, pursuant to ASX Listing Rule 7.1. Placement of the remaining 9,439, 415 shares is subject to shareholder approval at the forthcoming General Meeting scheduled for late July 2007. State One Stockbroking Ltd acted as Lead Manager for the issue.
In commenting on the capital raising, Australis Aquaculture Managing Director Josh Goldman said "We are encouraged by the strength of institutional support for our recently announced strategy to create up to 10,000 TPA of production capacity for barramundi in Vietnam and to further expand our capacity in the United States."
Mr Goldman added "The Company believes that its two-pronged expansion strategy represents the most rapid and cost-effective means of meeting the rapidly rising demand for high quality sustainably-produced seafood in the North American, European and Australian markets. The strategy is designed to satisfy demand from particular sectors which have expressed strong interest in dealing with Australis."
The expansion strategy is summarised in an Investor Presentation lodged with the ASX on May 29, 2007.
Share Purchase Plan ("SPP")
Australis further announces that a Shareholder Purchase Plan ("SPP") will be offered to all shareholders with the record date for participation being June 21, 2007. The SPP offers Australis shareholders the right to purchase up to $5000 of ordinary shares at a price of $0.50 per share. The $0.50 price is identical to the placement price to institutional investors and represents a 12 per cent discount to the closing price on the ASX on June 6, 2007, the date of the board's decision and 9% below the average market price of Australis shares sold on the ASX in the five trading days prior to the date of this announcement. Shares will be offered in increments of $1000, with a minimum purchase of $2000.
The funds raised from the SPP will be used to develop the Company's operations in Vietnam, accelerate US sales activities and further develop US expansion opportunities.
The shares issued under the SPP will be fully paid ordinary shares which rank equally with the other ordinary Australis shares currently on issue. Ordinary shareholders with a registered address in Australia will be invited to subscribe for ordinary shares under the terms and conditions of the SPP. The offer to participate in the SPP will be mailed to eligible shareholders shortly.