Rockeby to supply avian flu tests in Turkey, aims to raise $1.73m

Singapore-based Rockeby Biomed (ASX:RBY) has signed an exclusive deal to supply its avian flu kits to the Turkish Poultry Industry, an organisation which represents 90 per cent of the poultry industry in Turkey.

With a minimum per annum sales value of US$1 million (AUD$1.2 million), the agreement will see delivery of the kit in four quarterly shipments. Two shipments will be delivered by the end of June 2006, with associated revenues included in the company's results for the 2006 financial year.

Entitlement issue and EGM

Rockeby will also be conducting a pro rata offer of options to raise up to AUD$1.73 million.

The company will offer up to 173 million options at a price of $0.01 each, with one new option for every two shares held. The options will be exercisable at $0.05 at any time till April 30, 2009.

The issue is not being formally underwritten and the company needs to apply to list the options with the ASX. Any shortfall will be placed at the director's discretion.

Rockeby is also holding an EGM on a date yet to be announced to, amongst other things, approve two placements of up to 300 million shares and 100 million shares respectively, to raise additional working capital and to approve the allotment of options to director Nicholas Samaras