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


Certified Organics Seeks $6 Million For Growth

June 28, 2002

Certified Organics Seeks $6 Million For International Growth

Statement based on addresses given today at Certified Organics Limited’s
annual meeting in Auckland

Certified Organics is seeking to raise up to $6 million through a private share placement to fund its expansion into Australia and other international markets.

It will also use the funds to further develop its pipeline of certified organic and natural products, and to acquire complementary products and scientific capabilities.

At today’s annual meeting in Auckland, shareholders approved directors placing up to 1 billion new shares, which will represent 29.5% of the company’s shares on issue.

Directors were authorised to place the shares at a discount of up to 30% of market price.

While directors have yet to identify interested parties, it will target long-term strategic investors with a strong interest in accessing the rapidly developing organics market or those with a socially responsible focus on sustainable agricultural development.

Managing Director, Dr Earl Stevens, told shareholders Certified Organics was a “market leading company committed to developing and marketing scientifically sound, eco-rational and sustainable products”.

“Our initial focus will be on underpinning the stability of the company by concentrating on New Zealand and Australia.

“A household version of our certified organic weed killer, Organic Interceptor™ is already on the market in New Zealand and will be launched in Australia shortly.

“A commercial product is in the final stages of achieving regulatory consents in New Zealand and Australia.

“At the same time, we are processing product registration in the European Union and North America.

“This will ensure that in 18 to 24 months, when we are firmly established in New Zealand and Australia, we are ready to enter these markets too.”

Dr Stevens told shareholders that the company’s pine extract would be the technology platform for a wide range of new products, including fungicides, pesticides and cleaners.

“The strategic alliance we have with BioDiscovery New Zealand has given Certified Organics the scientific capability to exploit in full the agricultural and industrial potential of our patented pine extract invention.

“Our processing methodologies are innovative, and also protected by commercial know-how and a strategy designed to retain our trade secrets.

“What we are doing is not easily reproducible.”

Chairman, Dr Ray Thomson, said the company was on course to meet its forecast revenue target for the year ending December 31, 2002, of $2 million, and hold the year’s operating deficit down to $1.6 million.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>