Re: NEPTUNE MARINE - ANY MORE INTEREST
The Board of Neptune Marine Services Limited is pleased to announce that the Company
and Marketech Pty Ltd have arranged the placement of 2.4 million ordinary fully paid shares
in the Company at an issue price of $0.65 per share to raise $1.56 million. The placement
has been made pursuant to the provisions of section 708 of the Corporations Act 2001.
The shares, which have been placed with private investor clients of Marketech Pty Ltd (AFSL
230014), will rank pari passu with all other existing ordinary shares of the Company.
The funds raised will be principally applied to funding the working capital requirements
associated with the Company’s rapid expansion, which is progressing well ahead of original
expectations. These requirements include investment in both human and financial resources
required to meet anticipated demand. Funding is predominantly required on two main fronts,
being establishment costs for Overseas Licensing arrangements, and preliminary work on
potential Australian Projects.
The Board believes the placement strategically positions the Company to enable it to
capitalise on significant opportunities that exist both at home and abroad for the Neptune
Technology.
Authorised by:
Andrew Harrison
Managing Director
Well,
I must say this was very unexpected and out of the blue.
Let's see what happens to the shareprice tomorrow.Down, down and further down no doubt.You would think that if a announcement about a contract was coming they would have announced that first, got the price up and then set the placement.Maybe just me, but it looks negative to me.I'll see what happens tomorrow before bailing out.I wouldn't mind but I've just bought some more.