Troubled aquaculture firm Clean Seas Tuna has opted to halt stock trading at the bourse because of a pending announcement as to capital fundraising plans for the company. The trading halt would begin Thursday or until the statement release, whichever comes first.
After posting an Aus$34 million net loss for the first half of 2013, it also wrote down nearly Aus$30 million for its cancelled tuna breeding project. This is due to the illness that has decimated its fish stocks but it is projecting that it would turn a profit by 2015 on its new focused breeding of the prime kingfish.
The halt was requested by Clean Seas CEO Craig Foster, who further said that the announcement on proposed capital fund raising would be forthcoming, though no figures or schedule was mentioned. At the time of the trading halt, Clean Seas Tuna shares were valued at Aus$0.028 per share on the market.
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