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A2 Corporation Holds Positive AGM
Media Release for Immediate Release
A2 Corporation Holds Positive AGM
Auckland, 21 July 2006 - A2 Corporation (NZAX: ATM) held its AGM in Auckland today where joint Chief Executives Dr Andrew Clarke and Richard Le Grice as well as Chairman Cliff Cook presented the highlights of the year in review and looking ahead.
In his presentation, CEO of A2 Corporation, Dr Andrew Clarke told shareholders about the very positive feedback received from detailed consumer studies undertaken in the US, and the encouraging series of initial presentations to potential supply chain partners in the North American market.
“A2 expects to begin producing A2 Milk for sale in the United States this year through its 50/50 owned associated entity A2 Milk Company LLC,” said Dr Clarke.
Shareholders were also told about achievements in Australia with the Company’s wholly owned subsidiary A2 Australia Pty Ltd showing strong growth.
“A2 Australia Pty Ltd has10 million litres per annum available and is selling A2 Milk in over 1,000 outlets in Australia including in 800 supermarkets,” said Ms Natja Gougoulas, the General Manager for A2 Australia Pty Ltd.
It was announced that the new branding and marketing campaign for A2 Australia Pty Ltd will be launched in Australia in August.
Together with new product development, A2 Australia Pty Ltd is expected to significantly grow and expand sales volumes in Australia. A major milestone for A2 Australia Pty Ltd is a 3 year contract with Coles supermarkets nationally for A2 Milk products, which includes the ability to introduce new product lines.
The AGM meeting also heard that the Company has made significant achievements in expanding its portfolio of patents protecting its various forms of proprietary intellectual property.
Lastly, A2 CEO of International Business Richard Le Grice told shareholders that a capital raising was expected later this year.
“This is seen as a positive proposition that will enable the funding of debtors, inventory and operating growth in the key markets the Company has secured this year,” said Le Grice.
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