Wellnex Life Limited (ASX:WNX) is a consumer healthcare business with a proven capability of turning consumer trends into marketable products and getting those onto shelves fast via a market-leading distribution network.
Company Highlights:
Wellnex recently announced a doubling of revenues and margins, including over $3m sales per month in both November and December.
The company has recently rebuilt its board, adding some of Australia’s leading consumer health veterans, including successful entrepreneurs, blue chip executives and a former director of the Pharmacy Guild of Australia.
Parallel to this rights issue, Wellnex is conducting an IPO on AIM (part of the London Stock Exchange) to boost investor interest via a dual listing in Europe.
Wellnex Life (ASX: WNX) has launched a non-renounceable pro-rata 1-for-1 entitlement offer of fully paid ordinary shares (Shares) at an issue price of $0.65 per Share (Entitlement Offer) to raise up to approximately $22.1 million (before costs).
The issue price of $0.65 represents a:
Funds raised in the Offer will be used to:
Should you wish to apply for an amount greater than your allocation, use the same BPAY details to fund the full amount you would like to be allocated.
The directors reserve the right to allocate at their discretion any shortfall* to eligible shareholders that apply for additional new shares in excess of their entitlement.
*Note this is subject to there being a shortfall amount when the Entitlement Offer closes and the board retains absolute discretion on final allocations.
Zack gives an update on Wellnex’ progress including its game-changing deal with Haleon and recent doubling of revenues and margins.
46 mins | 18 February, 2025
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George Tambassis
Non-executive Chair
Zack Bozinovski
Managing Director
Zack is a highly successful and seasoned executive in the Australian retail industry with over 35 years’ experience within FMCG and Pharmaceutical companies in Australia and internationally. Zack has previously held senior positions at Uncle Tobys/Goodman Fielder, PepsiCo and Sigma and successfully developed and established many brands in the Australian retail sector. Zack most recently held the position of Managing Director at Brands Solutions Australia. Zack was also a co-founder of Voost Vitamins, recently sold to Proctor & Gamble.
George Karafotias
Chief Executive Officer
George is a specialist in restructuring, reinventing and implementing turnaround strategies for various ASX-listed companies with great success. His extensive experience includes an established track record with publicly-traded businesses, predominantly in senior executive positions. He is also a non-executive Director of Perpetual Resources Limited (ASX:PEC), and holds a Bachelor of Commerce degree from the University of Adelaide.
Andrew Vidler
Independent Non-Executive Director
Andrew Vidler has comprehensive experience across retail, consumer health products and retail pharmacy. Andrew in his over 30 years’ experience includes nearly 20 years with the EBOS Group (formerly FH Faulding, Mayne Group and Symbion), where across many roles he led the Terry White and Chemmart pharmacy brands and the Endeavour consumer health products business. For the last 4 years Andrew worked for API Limited (now Wesfarmers Health) where he was responsible for the Priceline retail and Priceline pharmacy business. Andrew has an excellent track record of building strong team cultures while ensuring they say focused on the marketplace and building customers with an active preference for the products, brands and retailers he oversees.
Jeffrey Yeh
Non-Executive Director
Jeffrey Yeh is an experienced all-rounded entrepreneur, with over 21 years’ experience in all aspects of pharmaceutical sales, marketing, production, quality assurance, operations, logistics, finance and management. Jeffrey co-founded Homart Pharmaceuticals in 2002, and since then has grown Homart into a premier and award winning manufacturing and brand business with over 200 employees and an international presence.
Eric Jiang
Independent Non-Executive Director
Eric Jiang is a corporate adviser and independent board member. Eric brings a distinctive understanding of the cultural, economic and strategic context in which Australian businesses engage with China. Eric has previously sat on the boards of ASX listed corporates Connexion Media Limited (ASX:CXZ), Perpetual Resources Limited (ASX:PEC) and Wingara AG Limited (ASX:WNR). He is a past President of The Chinese Community Council of Australia.
George Karafotias
Chief Executive Officer
George is a specialist in restructuring, reinventing and implementing turnaround strategies for various ASX-listed companies with great success. His extensive experience includes an established track record with publicly-traded businesses, predominantly in senior executive positions. He is also a non-executive Director of Perpetual Resources Limited (ASX:PEC), and holds a Bachelor of Commerce degree from the University of Adelaide.
Zack Bozinovski
Managing Director
Zack is a highly successful and seasoned executive in the Australian retail industry with over 35 years’ experience within FMCG and Pharmaceutical companies in Australia and internationally. Zack has previously held senior positions at Uncle Tobys/Goodman Fielder, PepsiCo and Sigma and successfully developed and established many brands in the Australian retail sector. Zack most recently held the position of Managing Director at Brands Solutions Australia. Zack was also a co-founder of Voost Vitamins, recently sold to Proctor & Gamble.
The Entitlement Offer is not an offer of the Company’s securities to any person outside Australia or New Zealand or to any person to whom it is not lawful to make an offer of the Company’s securities.
The information in the Entitlement Offer Booklet is not investment advice or a recommendation to acquire Entitlement Offer Shares and has been prepared without taking into account your investment objectives, financial circumstances or particular needs as an investor (including financial and taxation considerations). It is recommended that you read the entire Entitlement Offer Booklet and seek professional investment advice from your financial adviser or other professional adviser before deciding whether to apply for Shares.
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This is not an offer of securities in any place outside Australia or New Zealand and does not take into account your individual investment objectives, financial situation or particular needs. An investment in the Company is speculative. Therefore, you should obtain independent financial and taxation advice before making an investment decision. Before making an investment decision, you should read the disclosure documents to understand the features, risks and returns associated with the investment to make your own informed decision.
