Marine Produce Australia non-executive director John Hutton has shown his support for the aquaculture company, spending more than $1.4 million of his money participating in the company’s recent $13.5 million capital raising, via a rights issue. Mr Hutton bought 48 million shares at three cents each, a slight premium to the company’s last traded price of about 2.7c. The rights issue lifts Mr Hutton’s shareholding in the company to about 13 per cent. Chairman Miles Kennedy spent $186,029 participating in the rights issue. Funds from the capital raising will be used to expand the company’s operations.
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