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- Fish farmer Huon Aquaculture Group (HUO) is gearing up to raise fresh capital as it prepares to release its FY20 results
- While its results are expected in the next 24 hours, Huon shares will remain locked up until Monday, August 31, unless it can make the fundraising announcement earlier
- So far, just how much the Tasmanian-based aquacultural company wants to raise and what it’ll use the funds for remains unknown
- Huon’s last company update was released in late April, where it outlined the impact COVID-19 was expected to have on its production
- The fish farmer expects its total FY20 harvest will be between five and ten per cent below its original forecast of 25,000 tonnes
- In addition, the company advised it would withdraw its operating and statutory earnings guidance due to ongoing trading uncertainty for the rest of FY20
- Huon shares last traded for $3.25 per share
Salmon farmer Huon Aquaculture Group (HUO) is fishing to raise fresh capital as it prepares to release its FY20 results.
While its results are expected in the next 24 hours, Huon shares will remain locked up until Monday, August 31, unless it can make the fundraising announcement earlier.
So far, just how much the Tasmanian-based aquacultural company wants to raise and what it’ll use the funds for remains unknown.
Huon’s last company update was released in late April, where it outlined the impact COVID-19 was expected to have on its production.
The fish farmer expects its total FY20 harvest will be between five and ten per cent below its original forecast of 25,000 tonnes.
However, the current financial year’s harvest is expected to rise by 20 to 25 per cent, based on a 30,000-tonne forecast, thanks to carryover from FY20.
In addition, the company advised it would withdraw its operating and statutory earnings guidance due to ongoing trading uncertainty for the rest of FY20.
On Friday, Huon will conduct an analyst and institutional investor briefing, set to take place at 12:30 pm AEST.
Managing Director and CEO, Peter Bender, deputy Chief, Philip Wiese, and CFO, Tom Haselgrove, will speak on the financial results.
Originally, the briefing was slated for 1:00 pm AEST today, but it was brought forward and then pushed back in an announcement released early this morning.
Huon shares last traded for $3.25 per share.
