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Announcement

RIGHT: SEA: SeaDragon rights trading to end Tuesday 4 October

28 Sep 2016 11:13NZX
NZX / MEDIA RELEASE    28 September 2016

SeaDragon rights trading to end Tuesday 4 October

Renounceable rights offer and shortfall book build closing soon; update on
acceptances and potential new investor

New Zealand''s largest refiner and blender of high-quality fish oils SeaDragon
Limited (NZX:SEA) wishes to remind shareholders that the 1 for 2 renounceable
rights offer and shortfall book build which was launched earlier this month
will close at 5:00pm on Monday, 10 October 2016. Rights trading on the NZX
will cease at 5:00pm on Tuesday, 4 October 2016.

SeaDragon is pleased to announce that as of close of business on Tuesday, 27
September 2016, it has received acceptances in respect of the offer that
have, in aggregate, exceeded $1.5 million.

Shareholders would also have seen the NZX Operations announcement released on
22 September 2016 notifying the market of an off-market trade of 367,632,401
rights (SEARB) at a price of $0.0005 per right (which would equal to a total
price of $183,816.20, and, if all of those rights are exercised, would equal
to a total exercise price of $2,941,059.21).

SeaDragon also wishes to advise that its preliminary discussions with a
potential new cornerstone investor have not been successful. SeaDragon
continues to discuss investment opportunities with other potential investors.

The company wishes to remind shareholders who want to take up all or some of
their rights under the offer that they must ensure that acceptances and
applications for oversubscriptions are received by Link Market Services
promptly and by no later than 5:00pm on Monday, 10 October 2016.

Shareholders wishing to sell their rights on the NZX Main Board must do so
before the rights cease trading at 5.00pm on Tuesday, 4 October 2016.

If eligible shareholders do nothing with their rights before the closing
date, then they will lapse and those shareholders will not be able to
subscribe for any new shares under the rights offer or realise any other
value for their rights (except as provided for in relation to the shortfall
bookbuild).

Investors interested in participating in the shortfall bookbuild process may
do so by contacting an NZX Primary Market Participant Firm or Richard
Alderton at:
Richard Alderton
Email: rich.alderton@seadragon.co.nz
Tel: +64 27 865 6565

Eligible shareholders should have received a copy of the offer document and
their letter of entitlement and acceptance detailing their rights to
subscribe for rights under the offer.

If any eligible shareholder has not received details of their rights or a
copy of the offer document by mail or by email, or has misplaced their copy,
they should contact Link Market Services on +64 9 375 5998 or
applications@linkmarketservices.co.nz.

Further details of the offer and the oversubscription facility are set out in
the offer document.

For further information contact:
Colin Groves
Chairman
Tel: +64 21 928 003

About SeaDragon: www.seadragon.co.nz
SeaDragon Limited (NZX:SEA) is New Zealand''s largest refiner and blender of
high-quality, internationally certified concentrated fish oils and fractions,
including Omega-3 oils. Our oils are sourced from fish caught in the clean
and pure waters around New Zealand, in the Southern Ocean, and elsewhere. We
have more than 20 years'' experience processing fish oils and we are
recognised for the quality and purity of our products. We supply health
supplement manufacturers around the world to meet the burgeoning demand for
pure, high-quality fish oils, which are scientifically proven to deliver
significant human health benefits such as lowering the risk of heart disease,
improving brain function and joint health. The majority of our supply is
exported.
End CA:00289898 For:SEA    Type:RIGHT      Time:2016-09-28 11:13:16
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