By DANIELD RIORDAN
Dunedin-based Botry-Zen is aiming for a Stock Exchange listing in July - five months later than it had targeted last November.
The company, which is commercialising an organic control for botrytis fungal infections in crops (especially grapes), trades on the unlisted market.
Chairman Max Shepherd said in a newsletter to
shareholders that several reasons were behind the delay, including investigating listing on an overseas exchange.
Next month Botry-Zen will ask shareholders to approve changes to its constitution in preparation for the move to the main board.
Botry-Zen is spending $700,000 to upgrade its factory over the next three months, and is increasing staff from 12 to 20.
Shepherd said the company had refined its manufacturing process after "teething problems" with last season's trials.
Previously Botry-Zen (the product) had been embodied in a liquid suspension, which was susceptible to temperature fluctuations during transit and variations in the end user's storage and application techniques.
This had led to some technical difficulties in application, said Shepherd, which had been remedied through better manufacturing.
Lifting the product's shelf life from several weeks to months means the company will be able to manufacture year round, and export to Northern Hemisphere markets rather than having to license to overseas manufacturers.
He said field trials during the past season had produced "pleasing results" with the Botry-Zen product controlling botrytis infections in Gisborne, Hawkes Bay and Marlborough.
Pharma Zen, which shares many investors and several directors with Botry-Zen (including Howard Paterson, the man instrumental in commercialising the technology), plans to move from the unlisted market to the main board in July.
Paterson is investigating dual listings for the two companies, and already-listed Blis Technologies, in Singapore.
