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- Release Date: 30/08/13 16:29
- Summary: PLACE: BLT: BLIS Technologies Strategies Endorsed
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BLT
30/08/2013 14:29
PLACE
REL: 1429 HRS BLIS Technologies Limited
PLACE: BLT: BLIS Technologies Strategies Endorsed
BLIS Technologies Strategy Endorsed
BLIS Technologies ("BLT" or the "Company") shareholders ratified the capital
raising initiatives supporting its business development strategy at the
Annual Shareholders Meeting in Dunedin today.
The shareholders endorsed the placement of 300m shares to parties that will
include the existing major shareholder Edinburgh Equity Nominees Limited and
new trade investors Asian Pacific Partners Limited ("APPL") and NZPR Group
and associated interests ("NZPR"). The placement at 1 cent per share will
raise up to $3 million, with subscriptions for $2.2m already held by the
Company. Independent of the placement, shareholders will have the right to
apply for up to $15,000 of shares at no more than 1 cent per share pursuant
to a Share Purchase Plan to be conducted later this year for up to 150
million shares. These initiatives which together are expected to raise
$3.5-$4.5 million will support the commercialisation of its products in New
Zealand and international markets.
The Company emphasised to shareholders the significance of strategic
alliances with APPL and NZPR, now strengthened through equity participation.
BLIS is collaborating with APPL to identify and develop specific applications
for finished retail products and nutritional formulations in Asia and the
Middle East. NZPR played a critical role in obtaining approval for BLIS
K12TM as a food ingredient in China. NZPR is now building the infrastructure
in China to distribute BLIS products and recently reached a major milestone
with the appointment of Sinopharm to market oral health products containing
BLIS's probiotics.
Shareholders were advised that in the first four months of the 2014 financial
year the Company met its budgeted trading contribution on revenues of $560K
(48% of total sales revenue for 2013 FY). This reflected increased ingredient
sales in Japan and Europe and a significant increase in New Zealand retail
and web based sales. As outlined in the Appraisal Report supporting the
capital raising, an operating loss was still anticipated in the 2014
financial year.
Shareholders were advised that other than a delay to the commissioning of the
nutritional formulations plant, business development in the current year was
in line with expectations. The plant is expected to be commissioned in
September with approvals then sought for export of product. The Company will
in conjunction with third parties produce and market milk based formulations
mainly for Asian markets. These nutritional formulations will include
beverages with BLIS K12TM and BLIS M18TM ingredients providing functional
foods with BLIS trademarks.
Other developments supported by BLIS included the introduction by our New
Zealand distributors of a new blister pack format for BLIS K12TM lozenges to
New Zealand pharmacies and the release of companion animal health care
product containing BLIS K12TM in Japan.
Although the Company has yet to achieve profitable operations shareholders
were advised that upon completion of the capital raising initiatives it will
have the capital base necessary to support its strategy of pursuing global
ingredient sales in conjunction with its primary distributor Novus Nutrition
Brands and the parallel implementation of consumer oral product strategies
with its trade partners including Asia Pacific Partners Ltd, NZPR Group and
others. These strategies will continue to be supported by investment in the
underlying science of its proprietary probiotic strains and regulatory
approval processes and are expected to deliver profitable operations in the
foreseeable future.
YOUR CONTACT:
Dr Barry Richardson
BLIS Technologies Ltd
10 Birch Street
Dunedin, New Zealand
Phone +64 (3) 474 1338 or 021 664 742
www.blis.co.nz
BLIS Technologies Limited is a developer and supplier of advanced probiotics.
Asia Pacific Partners Limited are professional investors and value added
partners with business connections and commercial partnership capabilities
throughout Asia and the Middle East.
NZPR Group Limited is trade facilitator with extensive business connections
in China that support a wide range of interests.
Sinopharm is the largest pharmaceutical company in China. Its operations
include research and development, manufacture and a distribution and
marketing network that extends throughout China and internationally.
End CA:00240481 For:BLT Type:PLACE Time:2013-08-30 14:29:59
