ASX In-principle Application
Sydney, Aug 15, 2023 AEST (ABN Newswire) - Veratin Limited (NSX:VTN) is pleased to announce it has submitted an in-principle application for advice on the Company's suitability for admission to the official list of the ASX.
Subject to shareholder approval, the Company plans to withdraw its listing on the NSX with the intention of listing on the official list of the ASX. It is Veratin's position that it will satisfy the admission and quotation requirements set out in Chapters 1 and 2 of the ASX Listing Rules.
The Board considers that the Company being listing on the ASX will better align with the Company's objectives and is in the best interest of the Company's shareholders for the following reasons:
(a) better ability for the Company to increase its Shareholder base by enhancing marketability and liquidity of the Company's securities;
(b) greater access to a deeper pool of equity capital markets and fundraising prospects to support the Company's growth objectives;
(c) strengthening the Company's public recognition, commercial standing and investor profile;
(d) a larger profile and broader exposure for the Company to potential investors as well as capital to enhance its growth prospects; and
(e) help generate a substantial increase in the Company's funding resource, enabling it to advance its expansion objectives.
Executive Chairman of Veratin Limited, Dr Ramiz Boulos, says "I am thrilled about the next phase of growth for Veratin. I believe with our investment in research and development of innovative products, we will emerge as a key player in the markets we operate in in the foreseeable future".
To view the timetable, please visit:
About Veratin Limited
Veratin Limited (NSX:VTN) is involved in the research and development of products derived from waste wool, including the development and sales of its initial product, Verigrow(R), a wool-based liquid fertiliser for domestic and commercial use. The Company is also involved in the development of additional products and opportunities derived from its registered intellectual property.