A2 Corporation (NZAX: ATM) (A2C) is pleased to announce a placement of 33,000,000 new shares in the Company at an issue price of 10 cents a share to a group of leading New Zealand institutional investors. The placement will raise gross proceeds of $3.3 million.
The placement follows on from the recent rights issue which raised $11.3 million and is in line with statements provided previously about the A2C’s likely requirement to raise additional capital in the future.
This placement is the culmination of the interest expressed by institutional investors as a result of discussions that occurred during the rights issue process. This investor interest is seen by the Board as a strong endorsement of A2C’s business model and future prospects.
The Directors intend providing a full update to shareholders at the forthcoming Annual Meeting to be held in Auckland on 26th September 2008.
For more information please contact:
Cliff Cook, Chairman, A2 Corporation, Ph +64 9 309 1700
Anthony Lawler, CEO, A2 Corporation, Ph +64 9 523 4795
Julien Leys, JML Communications, Mobile +64 21 655 598
About A2 Corporation
A2 Corporation Ltd owns and licenses intellectual property that enables the identification of cattle for the production and subsequent marketing of a2 Milk™. a2 Milk™ is naturally produced to contain maximum amounts of a milk protein variant that is associated by a number of studies with potential benefits in some individuals. A2 Corporation Ltd receives royalty income from sales of a2 Milk™ products and testing for A2 cattle, and shares in the profits or losses of associates and subsidiaries formed for those purposes.