Sealegs no longer considering Rights Issue
10 February 2009
Sealegs no longer considering Rights Issue
Sealegs Corporation Limited today announced it has postponed the consideration of a rights issue.
Sealegs CEO, David McKee Wright said “the Sealegs board considers current economic conditions will not support an expansive business plan and as such the company is basing its plans around operating cash flows and existing cash reserves. Further to this the company will concentrate on developing existing markets.”
He went on to say “international uncertainty makes raising money to execute an expansive business plan unwise at this time.”
