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CeAnic Director Joining Nzse Working Party

CeAnic Director Joining Nzse Working Party

CeAnic director Prem Maan is joining the New Zealand Stock Exchange working party set up to establish the rules for the AX Board, the new NZSE vehicle for innovative, high-growth companies.

CeAnic Limited is a marine technologies investor which last week launched a $20 million public offering - providing the first opportunity for the New Zealand public to invest directly in the thriving marine industry. The company already has stakes in marine design and software companies, and is targeting further opportunities in the boatbuilding, marine tourism, marine-based renewable energy and aquaculture sectors.

CeAnic Chairman John Storey said while CeAnic is not seeking to list on any stock exchange at this stage, it would consider doing so in the future.

"CeAnic has invested in a range of start-up and marine-based businesses with strong growth potential," said Mr Storey.

"Our business model and our commitment to building shareholder value require us to grow our existing businesses and build a critical mass of further investments before considering listing. In the meantime we've structured our business to withstand the same levels of scrutiny as any listed company."

Mr Storey said CeAnic has been formed with high standards of corporate governance, including transparency, and the entire company is founded on the basis of creating shareholder value. CeAnic's prospectus has been subject to professional review by leading accounting firm Ernst & Young and legal counsel Chapman Tripp.

Mr Maan, an experienced investment banker, joins representatives of listed and unlisted companies, the Government, the broking community, accountants, banks, lawyers and information providers on the AX working party.

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