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BRIEF-Tassal Group says it is investing in a range of working capital and capital investment initiatives

Published 02/03/2017, 09:57 am
Updated 02/03/2017, 10:00 am
BRIEF-Tassal Group says it is investing in a range of working capital and capital investment initiatives
TGR
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March 2 (Reuters) - Tassal Group Ltd TGR.AX -

* Is investing in a range of working capital and capital investment initiatives

* Expects to invest $270 million in capital expenditure over next five years, with forecast return on this capital expected to exceed current levels

* Initiatives are expected to deliver an additional 2,500 - 3,000 hog tonnes of harvested salmon each year to fy21

* Initiatives to be funded via a fully-underwritten $80 million institutional placement and a non-underwritten share purchase for up to $20 million

* Initiatives include investment of $95 million over five years to accelerate roll out of improved net technologies

* Initiatives include investment of $53 million over 3 years to establish salmon farming operations in okehampton ,oceanic sites in storm bay Source text for Eikon: ID:nASX4BpJCH Further company coverage: TGR.AX

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