Thu 30 July 22:04:45 NZST

SLG / Announcements

Sealegs Issue New Shares

12:51pm, 16 Aug 2010 | ALLOT

Sealegs Corporation (NZX:SLG) has today announced that by directors resolution it has issued, for cash, 31,000,000 new ordinary shares at $0.20 per share to Avenport Investment Corporation, an overseas private equity investment company.

Listing Rule 7.12.1

Sealegs Corporation Limited advises that it has today issued 14,000,000 ordinary shares. Set out below is the information required by Listing Rule 7.12.1:

(a) Class of security and ISIN: Ordinary shares, NZIGVE0001S1.
(b) Number issued: 31,000,000.
(c) The nominal value and issue price: $0.20 per share.
(d) Payment for the shares: The shares were issued for cash.
(e) Amount paid up: Fully paid up.
(f) Percentage of the total class of securities issued: 25% of total ordinary shares (post the issue).
(g) Reason for issue: The shares were issued to a professional investor to raise new capital.
(h) Specific authority for the issue: Board approval.
(i) Terms or details of the issue: The shares rank equally in all respects with the existing ordinary shares of the company.
(j) The total number of securities of the Class in existence after the issue: 124,090,190.
(k) Acquisition of shares: N/A
(l) Date of the issue: 16th August 2010.