Oceanus: collaboration agreement with Australia’s Lobster Harvest Ltd, to develop commercial lobster pdtn operations in the PRC. Oceanus to invest A$1m for 6.5% stake in Lobster Harvest (with option to acquire more shares), plus additional A$2m in two 50/50 JVs for adaptive research and pilot commercial trial pdtn. In exchange, Lobster Harvest will contribute A$1m, license its slipper lobster hatchery technology to the JVs, and grant Oceanus the first right of refusal to its Spiny Tropical Rock Lobster technology currently under development.
If lobster production trials are successful, this could open up a new area of growth for Oceanus, to complement its existing business in abalone farming. Oceanus trades at 8x historical PE.
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