The infant formula manufacturer told shareholders an investigation into a leaked prospectus had delayed the listing, as it flagged an “integral acquisition”.
Care A2 Plus, the privately owned infant formula manufacturer that holds a lucrative licence to import into the United States, has told its investors it is pushing ahead with plans for an ASX compliance listing and is in talks about an “integral acquisition”.The Australian Financial ReviewMichael Pinn, an investor in Care A2 Plus, raised concern about the lack of communication of the company.
“Whilst this was great news from ASIC, it was only received in early March, meaning that we cannot possibly list in March 2023. ASX rules are such that we are required to submit audited accounts no older than 9 months.” Care A2 Plus cans its products at this Hallem-based plant, which produces 20 million tins of formula a year. Mason has previously flagged a decline in turnover and profitability.
Chris Flahey, a former Bellamy’s sales director and industry consultant, said Care A2 Plus should be focused on improving sales and profits, rather than any transaction.
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