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HOLISTA COLLTECH LIMITED — Capital/Financing Update 2012
Nov 11, 2012
65044_rns_2012-11-11_837b2801-d051-4086-b55a-91252e313140.pdf
Capital/Financing Update
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Holista CollTech Limited (ASX:HCT / ABN 24 094 515 992) Level 18, Central Park 152-158, St Georges Terrace, Perth WA 6000 Ph: +618-9278-2736 Fax: +618-9288-1842 www.holistaco.com
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SALE OF IDLE VACANT INDUSTRIAL LAND IN MALAYSIA
12 November 2012
Holista Colltech Ltd (the “Company”) is pleased to announce that the vacant industrial land owned by its wholly owned subsidiary (Holista Biotech Sdn Bhd ) in the State of Negeri Sembilan, Malaysia, has successfully been sold for a profit of AUD360,000 at a price of approximately AUD840,000. This is in excess of the independent valuation report provided to the Company.
This land became vacant when the Company decided to move the production of food grade collagen back to Australia from Malaysia as per ASX announcement on 15 May 2012.
The sale proceeds will primarily be used to accelerate the commercialisation of the collagen plant based in Collie and further product development with nano collagen and food ingredients. Such initiatives continue the Company’s pathway to improved cashflow and profitability.
Jay Stephenson COMPANY SECRETARY