Australian Dairy Nutritionals Group offers shares to retail investors to fund organic a2 infant formula operation

Australian Dairy Nutritionals Group is offering a share purchase plan to retailer investors for its new infant formula plant in Camperdown.

Australian Dairy Nutritionals Group has been building a new infant formula plant at Camperdown which is expected to be completed by June.

AUSTRALIAN Dairy Nutritionals Group has announced a share purchase plan for retail investors to raise $1 million for its new infant formula plant under construction in Camperdown.

Retail investors will be offered shares at six cents each, in line with a similar offer made to new and existing institutional investors in mid-December to fund installation of a second-hand blending and canning line at the Camperdown factory, plus undertake marketing and promotion of its new infant formula brands.

Some funds will also be used as general working capital.

Australian Dairy Nutritionals Group plans to carve a niche in the market for organic infant formula with the a2 protein.

The listed dairy company raised $6.5 million from institutional investors last month.

“The company will accept oversubscriptions of a further $1 million and will scale back applications pro rata to the extent that applications exceed $2 million,” it said in a statement

“Directors will participate in the capital raising process through a separate placement at the same price as the SPP price, rather than participating in the SPP, subject to the director placement being approved by security holders at the upcoming extraordinary general meeting expected to be held on or about February 18.”

The retail offer applies to investors holding shares on January 8.

The SPP offer closes on February 10 and shares will be issued a week later.

MORE

AUSTRALIAN DAIRY NUTRITIONALS GROUP BUYS CANNING PLANT

SHIFT TO ORGANIC A2 INFANT FORMULA

ORGANIC WHOLE OF SUPPLY CHAIN MOVE BY CAMPERDOWN DAIRY

Peter Hemphill’s family holds shares in Australian Dairy Nutritionals Group.