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Investors Take Up 83 % Clean Seas Tuna Shares Offering

Clean Seas Tuna raises Aus$ 3 million with rights issue - shareholders and investors take up 83.3 percent of all shares offered
South Australian aquaculture firm Clean Seas Tuna has successfully raised Aus$ 3 million following a rights issue and offer of shares to shareholders and investors.
In an announcement to the Australian stock exchange (ASX), Chairman Paul Steere said: “this is a very pleasing result given the company’s challenging history. With the recent strategies targeted towards improved performance of our kingfish grow-out showing positive results, we greatly appreciate shareholders’ continuing support towards carrying those strategies through to ultimate self-sufficiency and then resuming our southern bluefin tuna.”
After substantial asset-stripping and workforce downsizing following lackluster spawning numbers in 2012, the company appears to be on the mend, investing in its successful yellowfin kingfish program (with strong fingerling numbers and survival rates announced for 2013) and placing the southern bluefin tuna project on the back-burner until the company returns to profitability.