Such potential but no business acumen.Will she bounce for a few...

Such potential but no business acumen.

Will she bounce for a few to get out one more time or is she about to be de-listed.

Rumours of Taiwan persist:

Chemeq ex-director ponders $12m float
20th September 2006, 14:45 WST

A former founding director of animal drug maker Chemeq is considering plans for a $12 million sharemarket float of a new company that will hold an Asian distributorship for Chemeq’s polymeric anti-microbial drug.

Graeme Major, who quit the Chemeq board about two years ago when the company was struggling with a cash crisis and loss of market confidence, has written to Chemeq shareholders seeking expressions of interest in the new venture.

Despite having seen a big fortune whittled away by Chemeq’s sharemarket slide in recent years, Mr Major told WestBusiness he remained a big shareholder and a true believer in Chemeq’s “huge potential”.

He had already had preliminary discussions with Chemeq chief executive David Williams and been offered a distributorship with guaranteed product supply to take on the Taiwanese and other Asian markets.

The idea had been driven by Chemeq’s move to outsource several functions, including manufacturing, marketing and sales, to concentrate on its “core skills” of research and development and new product commercialisation.

Mr Major, an industrial chemist who also runs a private company which makes special coatings for industrial use on ships and mining machinery, said he wanted to give Chemeq shareholders a “bite of the cherry” but he was also expecting significant support out of Taiwan.

“The Taiwan veterinary market alone has a market size about the same as Australia,” he wrote in the letter. “The structure of the new company, capital requirements and rate of return for different levels of market penetration have been based primarily on the characteristics of the Taiwan market.

Chemeq’s polymeric anti-microbial drug is touted as a growth promoter in pork and poultry markets.

Michael Weir