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- Release Date: 14/11/13 18:36
- Summary: GENERAL: BLT: New Shareholding Signals Offshore Market Potential
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BLT
14/11/2013 16:36
GENERAL
REL: 1636 HRS BLIS Technologies Limited
GENERAL: BLT: New Shareholding Signals Offshore Market Potential
News Release
For immediate release
November 14, 2013
New Shareholding Signals Offshore Market Potential
A successful capital-raising at the top end of the range sought by BLIS
Technologies has also brought the benefit of attracting shareholders deeply
connected with significant markets in Asia, the Middle East and China.
A total of $4.33 million has been raised. This includes funds for share
placements already received of $2.33 million. A share purchase plan available
to all shareholders generated $1.39 million. A further $0.60 million has been
pledged in subscription agreements with funds due to be received in late
November, 2013.
Chief executive Dr Barry Richardson said while having the capital in place to
support the company's strategy is important, the exceptional benefit coming
from the capital raising is the change in shareholding configuration.
"I think these new shareholders grasped how the uniqueness of our product
range creates tangible potential to own a niche position in lucrative
markets. They understand those particular markets and agree that we have
something special to offer - therefore they have backed our strategy."
New shareholder, Asia Pacific Partners Ltd, has commercial and trading
connections throughout Asia and the Middle East.
Existing shareholder NZPR Group (including its associated parties), which
distributes BLIS in China, has expanded its shareholding. NZPR Group is
involved in broad business interests from movie distribution to dairy
products, grass cultivars and horticultural products. NZPR Group also has a
business relationship with one of China's largest pharmaceutical companies
that will benefit BLIS. Senior people from that company, Sino Pharm, will be
visiting BLIS in Dunedin next week.
Dr Richardson said that he believes having such well-connected companies with
an uninterrupted view of the trends and demands of the markets they operate
in will assist in increasing the pace of market development.
"They have a visceral interest in BLIS being successful."
After placements and the recent share purchase plan, BLIS has four major
shareholders and related parties accounting for 45.7% of the total
shareholding of BLIS.
Dr Richardson said having shareholders who can open the right doors for BLIS,
and having funds to work with that are at the higher end of our expectation,
creates the opportunity to bring forward further market development
initiatives in international markets.
BLIS went to the market seeking capital within the range of $3.5 million to
$4.5 million in order to continue with attaining regulatory approvals in key
markets and develop market channels.
END
For further comment contact:
Barry Richardson 021 664 742
For media assistance contact:
Del Carlini 021 709 907
End CA:00243806 For:BLT Type:GENERAL Time:2013-11-14 16:36:25
