Scoop has an Ethical Paywall
Fisher Funds Builds Stake In Sealegs Corporation
13 April 2007
Fisher Funds Builds Stake In Sealegs Corporation
Fisher Funds is pleased to announce that it has today subscribed to a placement of 1,700,000 new shares of Sealegs Corporation Ltd at an issue price of $0.58 per share.
The placement was arranged in consultation with the board of Sealegs which was looking for a strategic investor and a capital injection.
Fisher Funds chief investment officer Warren Couillault says: “Fisher Funds is delighted to subscribe to this placement of new shares in Sealegs Corporation. We have been monitoring the development of the company over the past two years and have been impressed with recent progress. Sealegs is now experiencing burgeoning demand and is transforming its operations to increase cost-effective scale production. This is likely to increase the quality of the product and its marketability.”
Sealegs recently sold 12 amphibious boats representing more than $1 million in sales at the Auckland International Boat Show. “There is every prospect of a significant increase in sales volume over the next three-to-five years, and a commensurate lift in profits,” Mr Couillault says.
ENDS
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
