The a2 Milk Company™ (a2MC or the Company) is pleased to announce that it has been admitted to the Official List of the Australian Securities Exchange (ASX) and that its ordinary shares will commence trading on the ASX today. This is another significant milestone after seven years of strong growth in the Australian market.
The ASX listing coincides with a major strategic initiative by the Company – the launch of a2 Milk™ in the United States, with a range of half-gallon fresh milk cartons launching into supermarkets and natural products grocers in California from mid-April.
Managing Director Geoffrey Babidge says the market reception from pre-launch activity in the United States has been positive, with a successful showing in March at the world’s largest natural, organic and healthy product expo in Anaheim, California.
The Company has appointed Jeffrey O’Neill as Chief Executive of its wholly-owned business in the USA. Mr O’Neill has an extensive senior leadership background with over 30 years’ experience in brand marketing, sales and strategic planning in Canada and the United States. Jeff’s prior roles include President and CEO for Pepsi-Cola Canada, President and CEO for Priszm/YUM brands Canada and more recently President and CEO for The Einstein Noah Restaurant Group, a publically traded restaurant chain with over 800 restaurants throughout the USA.
Mr Babidge says “The a2 Milk Company™ is in the business of pioneering a2 Milk™ and making its unique premium milk products available in a number of attractive international markets. Today’s ASX listing is another step in our strategic journey to achieve this goal.”
Mr Babidge says the ASX listing will provide a number of benefits to the Company and its shareholders. “Our Australian operations are the most significant component of our current business, continuing to deliver strong profit and revenue growth. The ASX listing, in conjunction with the listing on the Main Board of the New Zealand Securities Exchange, provides a closer alignment between our capital markets profile and our current business. It should also provide for broader investor participation and improved access to capital markets over time.”
As previously announced, the ASX listing also coincides with changes in the Company’s Board which took effect from 30 March 2015. These changes involved Cliff Cook and David Mair stepping down as directors, David Hearn replacing Mr Cook as Chairman and Julia Hoare being appointed Deputy Chairman. The Board has expressed its appreciation for the substantial contribution made by the retiring directors in leading the evolution and growth of the Company, in particular Mr Cook who has been a driving force as Chairman since 2004.
Mr Hearn brings a wealth of experience in a broad spectrum of grocery goods businesses in Australasia, the UK and the USA. Mr Hearn says “In my opinion, The a2 Milk Company is not like any other dairy company in the world and I am delighted to partner with the Board and executive team to continue to develop the business to realise its potential.”
The a2 Milk Company will trade on the ASX under the ticker code “A2M”. The ticker code for trading in a2MC shares on the NZX remains “ATM”.
The ASX listing does not affect the NZX listing and has not involved the raising of any new capital.
Official quotation of a2MC’s securities on the ASX will commence at 2:15pm New Zealand time (12:15pm A.E.D.T) on 31 March 2015.
View the ASX Information Memorandum.
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View the Investor Presentation from May 2015.
About the a2 Milk™ brand
About The a2 Milk Company™
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