Clean Seas Seafood : Q1 FY20 Sales Volumes up 17%, Microcap Presentation

ASX & Media Release

22 October 2019

Q1 FY20 Sales Volumes up 17%

David J. Head, the Managing Director and CEO of Clean Seas Seafood Limited (ASX: CSS) ("Clean Seas" or "the Company"), the global leader in full cycle breeding, production and sale of Yellowtail Kingfish, will be giving the following presentation at the 10th Annual Australian Microcap Investment Conference in Melbourne this afternoon.

The presentation will include an update on Clean Seas Q1 FY20 Sales.

Sales Volumes Increase 17% in Q1 FY20

Total Sales Volumes were up 17% across the Company in Q1 FY20 versus last year. Australia was up 16%, Europe up 21% and North America up 42%. Asia was down 38% due to timing of large container shipments.

Global Q1 Sales Volumes
700
600	17%
500
400
300
200
FY19	FY20

The Company's premium liquid nitrogen frozen product, SensoryFresh continues to drive growth in international markets.

Clean Seas Seafood Limited | ABN 61 094 380 435

7 Frederick Road, Royal Park SA 5014 | PO Box 3316, Port Adelaide SA 5015

Tel [phone] | www.cleanseas.com.au

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Convertible Note Entitlement Issue Prospectus

On the 15th October, the Company announced that it had lodged the prospectus for a convertible note entitlement offer with the ASIC (Prospectus).

The Prospectus is intended to be dispatched to eligible Shareholders on 29 October 2019.

The Prospectus is for a non-renounceablepro-rata entitlement offer of Convertible Notes to be made to eligible existing shareholders to raise up to $15.3 million. The terms of the convertible notes are set out in the Prospectus and include interest payable semi-annually at a rate of 8% per annum, convertible into ordinary shares at an 8% discount to the market VWAP and a three-year term to maturity.

The Record Date for determining entitlements is this coming Thursday, 24 October 2019. Applications for convertible notes can only be made on the form accompanying the Prospectus. It is important that shareholders and other potential investors read the Prospectus in its entirety.

A copy of the Prospectus can be accessed from the Company's website www.cleanseas.com.auor obtained by contacting the Company.

Terry O'Brien	David J. Head
Chairman	Managing Director and CEO

For further information, please contact:

Robert Gratton

Company Secretary and Chief Financial Officer [phone] [e-mail]

Clean Seas

Seafood

Limited (ASX: CSS)

Australian

Microcap

Investment

Conference

OCTOBER 2019

Australian Microcap

Investment Conference

Ocean to Plate

https://www.youtube.com/watch?v=-uEa_rlsEgo

Australian

Microcap

Investment

Conference

Major Shareholders

	Ordinary shares
Top 10 largest shareholders	Number of	Percentage of
shares held	issued shares
BONAFIDE WEALTH MANAGEMENT AG	16,200,139	17.5%
AUSTRALIAN TUNA FISHERIES PTY LTD (& RELATED ENTITIES)	5,940,624	6.4%
J P MORGAN NOMINEES AUSTRALIA PTY LIMITED	5,664,312	6.1%
UBS NOMINEES PTY LTD	1,965,678	2.1%
CITICORP NOMINEES PTY LIMITED	1,407,664	1.5%
BNP PARIBAS NOMINEES PTY LTD	1,258,934	1.4%
DAVID J. HEAD, MANAGING DIRECTOR (& RELATED ENTITIES)	1,189,497	1.3%
NEWECONOMY COM AU NOMINEES PTY LIMITED <900 ACCOUNT>	1,127,675	1.2%
3RD WAVE INVESTORS LTD	1,000,005	1.1%
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED	909,723	1.0%
Total Securities of Top 10 Holdings	36,664,251	39.7%
Total of Securities	92,418,465

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