CSS clean seas seafood limited

hey @sontax** I think maybe you were mistaken. There have been...

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    hey @sontax**  
    I think maybe you were mistaken.  There have been no informative announcements about the proposed CR on the ASX.  There have been two messages on hotcopper (one from Timber7 & one from nizora).  
    High all,

    As Im a soph Ive been offered some stk. It looks like a 14.2 mill raise; 6mill placement and rest is a SPP.

    Very surprised at CR and co.

    I was given a reason; to accelerate growth. Basically they want to bring forward capex with regards to onshore processing fac. and alt fish pens in northern SA bay. While they had option to wait and bank organic growth incl use of debt funding the equity raise was the cheapest way forward.

    All in all looks good. Wait for further dets from co. which will be out in next few days.
    &
    Very hungry fish, always need cap raising :

    Aquaculture company Clean Seas Seafood is seeking to raise up to $14.2 million in fresh funds via an institutional placement and rights issue with Patersons Securities.
    Clean Seas Seafood shares went into a trading halt on Tuesday morning as its broker pitched the story to potential investors.
    The company was seeking to rase up to $14.2 million including a $6 million placement and one-for-10 rights issue to raise up to another $8.2 million.
    The offer was priced at 6¢ a share which was a 22.3 per cent discount to the five day volume weighted average price.
    Funds raised were to continue the company's turnaround strategy including growth in its Kingfish biomass business and invest in farming and processing facilities according to terms sent to potential investors.

    The last trading price was 0.073 and it was trading between 0.07-0.08 before that.  I'm not sure but if they announce the CR tomorrow and it is a fixed 0.06 price, then that won't really affect the share price to much.  Actually it is beneficial to you.  It gives you some rights to get some shares cheaper then the current market price because you are an investor already.  If others want to invest then they must buy some shares to get those rights from you or others.  If some investors or traders don't like the idea of a raising they can sell out.  Although, if the CR has a set price it should act as a floor.  IMO it won't have a negative effect that you think it will.  

    As @Timber7   says "While they had option to wait and bank organic growth incl use of debt funding the equity raise was the cheapest way forward."
    As for you:  IMO it is trading above the CR and you can get the shares at a discount.  If you got them at 0.068 you can top up what ever the rate is 1:10 or what ever at 0.06.  
    i.e. if you have 1,750,000 x 0.1 = 175,000*0.06 = $10,500 you can get at the discount, which will reduce your average slightly.  If you are confident in their drive to accelerate profitability and bring forward more volume to process.  The choice is yours but it looks like a great deal.  Good luck my friend.  You will get your ASX announcement tomorrow (and some confirmation you desire).
 
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