Wattle Health Australia (ASX: WHA) is an Australian fast moving consumer goods (FMCG) company founded in 2005 and based in Melbourne. WHA is committed to developing, sourcing and marketing high quality, 100% Australian-made consumer food products, currently focusing on dried milk and infant formula products for the domestic Australian as well as Asian export markets.
WHA sources all of its existing commercial products only from Australian manufacturers enabling it have Australian made certification for its products. It currently has 27 product formulations that are anticipated to be able to be commercialised. Of those, 7 food products are currently available in the Australian domestic markets and also export markets. While commercial sales have only just commenced, WHA generated sales of $771,255 for the period 1 July 2016 to 31 October 2016.
In Australia, WHA has an exclusive agreement and has commenced sales with an Australian duty free company, JR Duty Free Pty Ltd to sell the WHA Domestic Infant Formula product range and full cream milk powder in their stores across Australia.
In terms of export markets, WHA has achieved registration, current as at the date of this Prospectus, of its three Export Infant Formulas with China CIQ. China CIQ registration is a requirement export infant formula into China, in all retail and online sales channels. The Chinese CIQ process is complex and it can generally take up to 24 months to secure China CIQ registration for each product.
The Company intends to use the funds raised to increase the sales and marketing budget to expand brand awareness to drive both direct and retail channel sales for WHA’s current commercialised products in the Australian domestic market and with a secondary focus on export markets (leveraging off WHA’s China CIQ registration for its Export Infant Formula range) and provide working capital for a 24 month period.
The expected market capitalisation of the Company is $20.1 to 22.9 million.
Section 734(6) disclosure: The issuer of the securities is Wattle Health Australia Limited ACN 150 759 363. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
The company reserves the right to close the offer early.
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