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HOLISTA COLLTECH LIMITED — Capital/Financing Update 2009
Apr 23, 2009
65044_rns_2009-04-23_b417419d-0615-4ac0-b8e1-3b7269eef780.pdf
Capital/Financing Update
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ASX/MEDIA RELEASE
24 April 2009
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Company Update
In its announcement dated 17 March 2009, CollTech Australia Limited provided details of the proposed acquisition of Holista Biotech Sdn Bhd (“Holista”). This release is to provide an update on the current status of this matter.
Due to delays in completion of the restructuring of minority interests in Holista, this has lead to a consequential delay in the completion and execution of documentation in connection with this proposed acquisition, as well as final sign off of the due diligence process.
The finalisation of both the formal acquisition agreement, as well as CollTech’s due diligence program, are well advanced. It is expected that the Company should be in a position to issue the Notice of Meeting and other supporting documentation seeking shareholder approval for this transaction shortly.
As noted in the announcement of 17 March 2009, CollTech also proposes to undertake a non‐ renounceable rights issue to provide ongoing working capital for the Company. It is anticipated that a further announcement detailing the timetable and terms for the rights issue will also be issued shortly.
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Alan Boys Company Secretary CollTech Australia Limited
About CollTech
CollTech Australia Limited is an ASX‐listed (ASX: CAU) bio‐industrial company based in Perth, Western Australia. CollTech specialises in the development and commercialisation of ovine collagen products and is currently the only company in the world manufacturing and marketing this type of collagen. CollTech’s OVICOLL® ovine collagen has several advantages over its bovine, porcine, ‘plant’ and marine competitors including:
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Disease‐free – sourced from certified and fully traceable livestock
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Culturally acceptable and Halal certified – there is no known cultural or religious group that objects to the use of ovine products
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High purity and thermal stability – optimises function and reduces impurities
The company currently markets OVICOLL®|C and OVICOLL®|Clear for cosmetic applications and OVICOLL®|R for research applications. OVICOLL®|M for medical purposes is expected to be released in late 2008.
CollTech Australia Ltd | ABN 24 094 515 992 PO Box 1661 Osborne Park WA 6916 Australia P +618 9426 3900 | F +618 9426 3909 | W www.colltech.com.au | E [email protected]
ASX/MEDIA RELEASE
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Enquiries:
Stephen Carter Non‐Executive Chairman P: +618 9426 3900 E: [email protected]
Alan Boys Company Secretary P: +618 9386 4003 E: [email protected]
CollTech Australia Ltd | ABN 24 094 515 992 PO Box 1661 Osborne Park WA 6916 Australia P +618 9426 3900 | F +618 9426 3909 | W www.colltech.com.au | E [email protected]
Enquiries:
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ASX/MEDIA RELEASE
Media: Sarah Allchurch P: +618 9381 6625 M: +61 412 346 412 E: [email protected]
CollTech Australia Ltd | ABN 24 094 515 992 PO Box 1661 Osborne Park WA 6916 Australia P +618 9426 3900 | F +618 9426 3909 | W www.colltech.com.au | E [email protected]