Healthzone Ltd Announces Application for NASDAQ Listing and Share Issue with Increased Investment to 19.9% by Eu Yan Sang
SYDNEY, June 7, 2011 /PRNewswire/ -- Australia's leading natural products distributor, franchise retailer and producer of health, beauty and natural products, Healthzone Limited (ASX: HZL; OTCQX: HLTZY), today provided the following market updates:
Healthzone announces application for NASDAQ Listing
Healthzone Limited (ASX: HZL) today announced it is in the process of filing a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed NASDAQ Global Market listing of its existing American Depositary Receipt (ADR).
"The decision to upgrade the ADR to NASDAQ is an important achievement on the path to a full US listing of Healthzone securities," commented Peter Roach, Healthzone Executive Chairman. "The NASDAQ listing will strategically position Healthzone with potential US investors, partners and customers. It is anticipated that the NASDAQ listing will add significantly to the enterprise value of Healthzone securities as it allows a range of domestic US institutions whose investment guidelines are restricted to US securities, to trade our shares as a US ADR security. The new listing will also allow Healthzone ADR's to trade on the fully automated, screen-based NASDAQ market."
Each Healthzone ADR will represent 20 Ordinary Shares of Healthzone, as traded on the Australian Stock Exchange (ASX). The code for Healthzone's ADR is HLTZY and its CUSIP number is 42225J208.
Share Issue
Healthzone today also announced that the company is in the process of issuing under the provision of the 15% rule 12,563,826 new Ordinary Shares at AU$0.38c including 2,093,971 attaching Warrants to strategic investors in support of brand and retail business acquisitions, development of proprietary own brand health products and working capital. Warrants are to be issued on the basis of 1 Warrant for every 5 Ordinary Shares. The Warrants are exercisable at a price of $0.48 cents per share before 23 June 2016.
Healthzone is delighted to announce that its largest shareholder Eu Yan Sang announced today they will increase their investment in Healthzone with the subscription to 7,310,755 of the new issue Ordinary Shares increasing their holding to 19.9% of the share capital on issue of Healthzone Ltd.
Eu Yang Sang CEO, Mr. Richard Eu said, "We see the transaction as a strategic investment to strengthen our collaboration and initiatives with Healthzone, which the Company is currently working on in relation to the launch of our range of products in the Australian market, and Healthzone to launch its products through the Company's network and outlets in Asia."
Further Updates
Healthzone will provide further updates to the market in relation to upcoming acquisitions, brand development and retail expansion in the near future.
About Healthzone Limited
Healthzone Ltd operates a portfolio of distribution, consumer product and retail business and is the largest operator in the Australian Wellness sector with significant and growing Asian and China wellness market interests. Each business provides immediate opportunities for earnings growth through business development and integration. Healthzone's businesses are comprised of three principal activities; Health and Beauty distribution; Health and Beauty Products, and Health Food Retail. For further information please visit www.healthzone.com.au
About Eu Yan Sang
Listed on the Singapore Exchange, Eu Yan Sang International Limited is a progressive, consumer healthcare company with a strong foundation in Traditional Chinese Medicine (TCM). It engages in the manufacturing, processing, distributing, retailing and wholesaling of TCM as well as health foods and supplements. As of March 31, 2011, Eu Yan Sang had a network of 179 retail outlets in China, Hong Kong, Macau, Malaysia, and Singapore. The company also operates a chain of 23 traditional Chinese medicine clinics in Singapore and Malaysia and 2 integrative medical centres in Hong Kong. The company was founded in 1879 and is headquartered in Singapore.
CONTACT: |
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Healthzone Limited |
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Peter Roach |
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Executive Chairman |
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Tel: +612 9772 7100 |
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USA |
Australia |
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The Trout Group |
FCR |
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Investor Relations |
Financial & Corporate Relations |
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Brian Korb |
Ashley Rambukwella |
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Tel: +1 646 378 2923 |
Tel: +61 2 9235 1666 |
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SOURCE Healthzone Limited
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