Sealegs Issue New Shares
24 May 2010
Sealegs Corporation (NZX:SLG) has today announced that by directors resolution it has issued, for cash, 14,000,000 new ordinary shares at $0.20 per share to Avenport Investment Corporation, an overseas private equity investment company.
Sealegs CEO, Mr David McKee Wright, said that the placement will ensure Sealegs has sufficient funding as it accelerates building the international inventories required in implementing its global sales growth strategy. It is also proposed to allocate further resources to development of enhancements and new models.
