Market Herald logo


Be the first with the news that moves the market

Seafarms Group Limited has just announced its partner Nippon Suisan Kaisha (Nissui) will invest a further A$2.998 million in the Company.

This update brings Nissui’s total investment in Seafarms to A$28 million. 

Seafarms Group Limited is an Australian aquaculture company which operates, builds and invests in sustainable aquaculture production, producing high-quality seafood.

Seafarms recently completed a share placement of $20 million which triggered Nissui’s top-up rights in accordance to the Shareholder Rights Agreement. Because of this, Nissui can participate in new issues of securities to maintain and continue its interest in Seafarms.

Nissui will be issued 33,311,111 fully paid ordinary shares at $0.09 per Share, in Seafarms. The shares are expected to be issued in the second week of May 2019.

The funds raised from Nissui as well as the recent Share Placement supports Seafarms’ strategy of generating more product in Project Sea Dragon, its world-class project.

Chairman Ian Trahar has stated “Nissui’s international presence will be extremely beneficial in the development of PSD and the continued success of our Queensland operations.”

Please find the announcement attached

SFG by the numbers
More From The Market Herald

" Veris (ASX:VRS) subsidiary awarded Shell LTE network contract

Veris’ (VRS) subsidiary, Aqura Technologies, has been awarded a $1.3 million private LTE network contract by Shell.
SRG Global (ASX:SRG) - Managing Director, David Macgeorge

" SRG Global (ASX:SRG) secures $20m specialist facades contract in Adelaide

SRG Global (SRG) has secured a specialist facades contract in Adelaide valued at around $20 million.
Zip CO (ASX:Z1P) - CEO, Larry Diamond

" Zip Co (ASX:Z1P) hits records in November

November was a strong month for Zip Co (Z1P), achieving a record monthly transaction volume of $906.5 million, up 52 per cent...
Strategic Elements (ASX:SOR) - Nanocube Memory Ink

" Strategic Elements (ASX:SOR) Japanese Nanocube Memory technology patent granted

Strategic Elements (SOR) has announced a patent has been granted in Japan for its Nanocube Memory technology.