Australia's Angel Seafood hits over 7-week high on Laguna Bay deal

Asara Resources

11/02/2022 03:57

** Shares of organic oysters producer  AS1.AX  climb as much as
11.8% to A$0.190, their highest level since Dec. 20 
    ** Co enters into scheme implementation agreement with
Valley Seas BidCo, a unit of agricultural asset management co
Laguna Bay Pty Ltd  urn:newsml:reuters.com:*:nASX6yJNhj
    ** AS1 says deal to purchase all of the shares in Angel
except ~16.2 mln shares held by CEO Isaac Halman and his
affiliates
    ** Adds that shareholders will receive a cash consideration
of A$0.20 per share 
    ** Shares on track for their biggest intraday pct gain since
Dec. 20 
    ** More than 979,800 shares change hands as compared with
the 30-day average volume of ~172,500 shares  
    ** Stock down 8.1% this year as of last close 


 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))