AQA Aquabella Grp

RNS Number:0518G
Aquabella Group PLC
22 October 2007




22 October 2007

                              Aquabella Group plc
                         ("Aquabella" or "the Company")

                                    Placing


Aquabella, an aquaculture company in the New Forest involved in the indoor
production of high quality, farmed Barramundi fish from a sustainable and
controlled environment, is pleased to announce that it has raised #1.68 million
via a placing of #785,000 of new Ordinary Shares and subscription for #900,000
of convertible loan notes. This fund raising replaces the proposed subscription
for #1.26 million of convertible loan notes previously announced on 18 July 2007
and 22 August 2007 and the Company will not exercise the call option over the
#1.26 million of convertible loan notes announced on 22 August 2007.

The Company has agreed a placing of 1,962,500 new Ordinary Shares ("the Placing
Shares") at a price of 40p per share ("the Placing Price") to a mixture of
existing and new investors, raising #785,000 ("the Placing").  The Company has
applied for the Placing Shares to be admitted to trading on AIM.

In addition to the placing, the Company has agreed terms for the subscription of
#900,000 of convertible loan notes ("the Loan Notes") from existing investors,
of which #540,000 are unsecured and #360,000 are secured by way of a fixed and
floating charge over the Company's assets. The Loan Notes will be redeemable by
the Company on or before 31 January 2010 ("the Term") and will carry an interest
rate of 8%. The Loan Notes will be convertible into Ordinary Shares at the lower
of 40p per share or the lowest price at which any Ordinary Shares are issued by
the Company during the Term and will be convertible at any time at the
discretion of the holder of the Loan Notes.

The proceeds of the Placing and the issue of the Loan Notes will be used for
working capital purposes, so that, assuming sales of New Forrest Barramundi
increase in line with the board's expectations, the full production capacity at
the Company's plant in Lymington, Hampshire, will be utilised.

The Company has therefore raised #3.68 million since July 2007 being the #2
million equity placing announced on 18 July 2007 and the #785,000 equity placing
and subscription for #900,000 of Loan Notes announced today.

Pieter Totte, Chairman, commented: "I am delighted that shareholders have the
confidence to continue their support of the board and the group's strategy. We
look forward with anticipation to the roll out of fillets and moving forward to
full production over the coming year meeting the increasing demand for New
Forest Barramundi."

The total shares in issue, with voting rights, post the Placing will be
25,486,110. The Company does not hold any shares in treasury. Consequently the
total number of voting rights in the Company is 25,486,110 and this figure may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change to
their interest in Aquabella, under the FSA's Disclosure and Transparency Rules.



Press enquiries

Aquabella
Pieter Totte      020 7234 0570

Shore Capital
Guy Peters        020 7408 4090




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

IOEILFIEIFLALID

Grafico Azioni Aquabella Grp (LSE:AQA)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Aquabella Grp (LSE:AQA)
Storico
Da Giu 2023 a Giu 2024