[ADELAIDE ],24 NOVEMBER 2023 Highlights: o Clean Seas has successfully completed a~A$9.5 million non-underwritten two-tranche placement in conjunction with the undertaking of an operational review. o The placement will settle in two tranches:~A$6.7 million on1 December 2023 and ~$A$2.8 million on17 January 2024 following an EGM (if approved). o The Company seeks to drive operational efficiencies by offsetting input cost pressures currently being faced in the global environment and to create a more stable and resilient business. o Funding will be used for working capital to facilitate the right sizing of the business operations and to execute on other key focus areas of the operational review. o Tranche 2 of the placement is subject to shareholder approval. As part of Tranche 2, Clean Seas' largest shareholder Bonafide Wealth Management, has subscribed forA$1.0 million and directors & management have committed to subscribe for a further~A$0.1 million . The full announcement is attached below Authorised for release by the Board ofClean Seas Seafood Limited . For further information please contact:Rob Gratton CEO rob.gratton@cleanseas.com.au
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