when is announcement, page-6

announcement finally made..... We finally got an announcement but I dont think I saw this one coming. It's a capital raising announcement but it is only for 2.4 million shares at 65c and they do say in the announcement they are progressing well ahead of original expectations.

Also the mkt cap of NMS is only $13 million so really a $1.5million capital raising should not dilute the share price at all, especially

- when NMS will have an extra $1.5million in the kitty,
-they will be spending the money establishing its brand name and
- commericalising its techology globally at a much quicker rate.

Its potential will be realised sooner rather than later.

I think the mkt would be stupid to sell down NMS.

Anyway below is an extract of their ann

Cheers


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.