Botry-Zen decides to stay home

By David Maida, Nzoom.com Business News Reporter

Tuesday 28th May 2002

A company which has developed an organic method of controlling fungal infections in grapes hopes to list on the main board of New Zealand Stock Exchange after abandoning attempts to list on the London Stock Exchange's Alternative Investment Market.

Botry-Zen says it now plans to list on the NZSE main board in July.

The company developed Botry-Zen, which combats the wet rot disease, Botrytis cinerea. This disease is the biggest in the worldwide wine industry and is the major causes of plant disease in New Zealand horticulture. Botry-Zen controls the disease and is made from naturally occuring fungal spores.

The environmentally-friendly cure will compete with poisonous fungisides. Botry-Zen says field trials in Gisborne, Hawkes Bay and Marlborough regions have seen good results.

Chairman Max Shepherd says shareholders will be asked to adopt a new constitution, which complies with the NZSE listing rules, at a special meeting in Dunedin on June 19.

"Having carefully reviewed all aspects of this opportunity, the directors have decided to proceed without further delay with an NZSE listing," Shepherd says.

Until it gets main board listing, the company shares will continue to trade on the unlisted securities board of the exchange.

Comments from our readers

No comments yet