BTA 0.00% 57.0¢ biota holdings limited

strategic stake ?

  1. 2,961 Posts.
    BIOTA HOLDINGS LIMITED 2003-06-06 ASX-SIGNAL-G

    HOMEX - Melbourne

    +++++++++++++++++++++++++
    Biota Holdings Limited (ASX:BTA) announced today the signing of an
    agreement with Babco ck and Brown Pty Limited for the placement of
    5,625,000 ordinary Biota shares at a price of $0.45 per share. The
    share placement will raise $2,531,250 in new funds for the Company
    and will be used for developing its growth strategy.

    In accordance with ASX Listing Rule 7.1, the approval of shareholders
    is not being sought for the issue. This private placement will
    increase the total Biota shares on issue by 7.5% to 80.6 million
    shares.

    The Company also announced the appointment of Mr Andrew Tyndale of
    Babco ck & Brown as a director of Biota Holdings Limited, effective 6
    June 2003. Mr Tyndale, who is also a director for Prime
    Infrastructure Trust, brings to Biota over 19 years of investment
    banking experience.


    For further information contact
    Andrew Macdonald
    COMPANY SECRETARY & CHIEF FINANCIAL OFFICER
    Biota Holdings Limited
    Tel +61 3 9529 2311


    wwwbiota.com.au



    Anythoughts ??????


    Singas
 
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