Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Organic Interceptor Transaction

AQL Holdings Announces Share Placement And Settlement Of Organic Interceptor Transaction

As part of its change of direction to an organics company, AQL Holdings Limited (AQL) has today completed the acquisition of Organic Interceptor Products Limited (OIP), as approved by shareholders last month.

AQL shareholders also approved the issue of up to 400 million ordinary shares by private placement at an issue price of 1.1 cents. The company has entered into unconditional subscription agreements to issue 181,816,363 shares at an issue price of 1.1 cents per share, and expects to receive all subscription moneys by the close of business this Friday, 14 September 2001.

The Agreement for the Sale and Purchase of 100% of the shares on issue in OIP has been declared unconditional and settled today.

As part of the acquisition of OIP, the current AQL board of directors, comprising Messrs Wikeley, Hudson and Gibson have resigned and the following new appointments have been made to the AQL board of directors:

· The Chairman and non-executive director is Dr Raymond Thomson, who is also chairman of directors of Wellington Drive Technologies Limited; · Research & Development Director is Rodney Innes, who is the inventor of the Organic Interceptor? range; · Commercial Director is Stuart Innes, who together with his brother Rodney founded OIP; · Managing Director is Dr Earl Stevens, who has spent the last 14 years in marketing, corporate development and general management; and · the Finance Director is David Warrick, who has considerable international and New Zealand experience as both a CFO and Regional Finance Director.

Organic Interceptor Products is the developer and owner of Organic Interceptor?, which is believed to be the world's first certified organic weed controller.

AQL Holdings Managing Director Earl Stevens says they have already begun work on preparations for the launch of a Certified Organic range of home and garden in New Zealand, in addition to work on overseas sales of Organic Interceptor?.

"Our next step is to set up a distribution network for our products and work on the branding and marketing of our Certified Organic range," he says.

AQL expects to change its name to Certified Organics Limited and to be trading under the new name by the end of September.

-ends-


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO:

Māui And Hector’s Dolphins: WWF/Industry Counter Offer On Threat Management Plan

Forest & Bird says WWF-NZ's plan for protecting Māui dolphins is based on testing unproven methods on a species that is almost extinct, and is urging the Government to reject the proposal. More>>

ALSO: