Ashurst acts on Huon Aquaculture's A$68 million capital raising

Huon's capital raising comprises:

• a fully underwritten placement of new fully paid ordinary shares in Huon to raise approximately A$64 million 
• a non-underwritten share purchase plan targeting to raise approximately A$4 million 

Huon also issued new shares with an aggregate value of approximately A$1 million to eligible employees under a new employee incentive scheme. The new employee shares will be issued as part of each employee's remuneration for the year.

The proceeds of the capital raising will be used to reduce net debt and strengthen the balance sheet of Huon.

Partner John Brewster commented:

"It was great to support Huon in executing a capital raising in this economic climate, which will help to set the company up for more success in the future."

The Ashurst team was led by partners John Brewster and Elspeth Arnold, who were assisted by lawyers Joseph Nguyen and Joe Ablitt.