WHA (ASX) Sold

Originally posted by shamall ↑

Here is a reply I got from George some weeks ago......I have concerns re: sales too.....however, their strategy makes sense but this doesn't guarantee success but i am willing to give the company time. (I am sure George would be happy for me to share this with shareholders)

I make the following comments in regard to your email. 1. In regard to sales please refer to the Announcement dated 31 January 2019, that refers to the fact that WHA is going through a major transformation in its product offerings. WHA has ceased producing conventional nutritional dairy products and converting to wholly Australian organic nutritional dairy products. WHA will be the first truly Australian Organic Nutritional Dairy Company, using 100% Australian fresh organic milk from the Organic Dairy Farmers of Australia. First product of this unique range will be available in both the domestic market and international market in April 2019. Please note the current SAMR accreditation is for conventional infant formula and WHA will manufacture this product and at the appropriate time will convert this to the organic range. 2. In regard to the proposed transaction to acquire majority ownership in Blend and Pack, this will strengthen the Balance Sheet as Total Assets will be circa $170 million with Net Assets off circa $125 million. In regard to the proposed debt facility this has been aligned with the loan provided by WHA to CBDG to build the first dedicated organic nutritional spray dryer in the Southern Hemisphere. That is the interest and the repayment of principal will be serviced by the current loan CBDG has with WHA. No financial resources form normal WHA operations will be required to service the new proposed loan and further Blend and Pack is a profitable business and WHA will be receiving dividends to further strengthen the finances of WHA. 3. In regard to SAMR, WHA is confident of obtaining SAMR but at the same time is not just concentrating its efforts in China. We have successfully registered products in many different markets and continue to look for new opportunities. We will be finalising distribution in new markets once we receive first product of our organic nutritional dairy range. Please be also aware we have secured committed contracts for WHA’s baby food range in both China and India

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