MGL 0.00% 0.0¢ mercer group limited

Ann: GENERAL: MGL: S-Clave and Funding Update

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    					MGL                                                                           
    14/06/2016 09:30                                                              
    GENERAL                                                                       
    NOT PRICE SENSITIVE                                                           
    REL: 0930 HRS Mercer Group Limited                                            
                                                                                  
    GENERAL: MGL: S-Clave and Funding Update                                      
                                                                                  
    S-Clave                                                                       
                                                                                  
    Mercer Group Limited (NZX:MGL) announces a significant step forward with its  
    S-Clave medical sterilisation technology.                                     
    MGL owns and has been developing a patented medical sterilisation technology  
    known as S-Clave.                                                             
    In the last few months, MGL has completed extensive internal trials resulting 
    in consistent and rigorously controlled sterilisation cycles that have        
    reached the previously stated goal of materially reducing the currently       
    accepted industry processing time.                                            
                                                                                  
    To now bring that technology to market, MGL has signed a Heads of Agreement   
    (HoA) with Melbourne based A.E.Atherton & Sons (www.atherton.net),            
    Australasia's leading manufacturer and supplier of medical steam              
    sterilisation products. MGL and Atherton will now each commit resources with  
    the goal of bringing an S-Clave product to market trials and subsequent       
    production.                                                                   
                                                                                  
    The principle terms of the HoA bring together MGL's technology and Atherton's 
    manufacturing and marketing strengths, which both parties believe will prove  
    successful in bringing a ground breaking technology to market in Australia    
    and New Zealand in the shortest possible time.                                
                                                                                  
    Funding                                                                       
                                                                                  
    As per the announcement on 2 March 2016, Gresham Finance Limited, a company   
    associated with shareholder and director Humphry Rolleston, agreed to         
    underwrite the deferred consideration due from Mercer Interiors Limited       
    ('MIL') that related to the sale of the Interiors business.                   
                                                                                  
    MGL has called the underwrite and on 14 June 2016 received $750,000. MGL was  
    due to receive $450,000 from MIL in February 2017 and $450,000 from MIL in    
    February 2018.                                                                
                                                                                  
    For further information contact:                                              
                                                                                  
    Richard Rookes, MGL CEO                                                       
    021 414 016                                                                   
    End CA:00283982 For:MGL    Type:GENERAL    Time:2016-06-14 09:30:07           				
 
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