Name



24 March 2016


Antaria Update


As part of Antaria's strategy to take advantage of first mover in the European market for our zinc based products and EcoCert approval for our active ingredients, Antaria has registered its own brand ZinXation in Australia and Europe including logo ready for launch at the Paris show (see attached brochure). This enables Antaria to develop direct sales from its own brand whilst continuing to be a product development partner with its expanding distribution network and external brand owners.


Antaria's end product formulations are in the final stages of TGA approval and will be ready for marketing in the upcoming In-Cosmetics Trade Show in Paris in April 2016.


Relocation to Brisbane


As announced in February, the Board are relocating the Antaria manufacturing and office facility from Perth to Brisbane.


As a result of a recent communications from two shareholders regarding the composition of the Board of Directors and the relocation of the business, the Board of Antaria advises that it plans to hold an EGM sometime in June to ratify a number of resolutions including the approval of the new lease in Brisbane for Antaria's operations. The Non-executive Directors have considered a number of buildings suitable for general and heavy industry in Brisbane and the building identified has preliminary estimated annual savings in excess of $500,000 compared to other comparable Brisbane properties and estimated year one savings of $200,000 compared to staying in Perth which includes the one off cost of make good provisions and shipping equipment to Brisbane when Antaria vacates its current premises in Perth. It is anticipated that the savings by moving from Perth in year 2 will be in excess of $500,000 and we anticipate further savings in freight and logistics that cannot be quantified at this preliminary stage. These cost savings moving to Brisbane combined with the anticipated increase in sales from our approved end formulation ZinXation branded products should increase the profitability of Antaria and could see the write back of tax losses previously written off.


Antaria Limited ABN 54 079 845 855 Postal Address: PO Box 725, Welshpool, Western Australia 6986

Production Facility: 112 Radium St, Welshpool, Western Australia 6106 tel +61 (8) 9258 1600 fax +61 (8) 9258 1699 www.antaria.com



Board Composition


Further, the question was raised by two shareholders regarding appointing them as Directors of the company. The Board has rejected this proposal as it would result in an approximate increase of $300,000 in Director's fees and additional cost of management time to Antaria's operational costs.


One of the shareholders who has made the request, cannot be an independent Director as he controls more than 5% of the Antaria shares. At the time of their request we have not received any information regarding their relevant experience and / or knowledge.


The current restructure of management has resulted in key managers reporting directly to the Board and the elimination of the positions of CEO / General Manager which we believe are unnecessary costs for the size of the business and has resulted in a future ongoing cost reduction of approximately $300,000.


Present Board is functioning well and most of the proposed and actual cost savings have been identified since Mr Mizikovsky re-joined the Board last year and he has received no remuneration, compensation and / or reimbursements for his services thus far.


ENDS


Rade Dudurovic

Non-executive Chairman

ZINXATION

EcoCert Approved Active Ingredient


Società del gruppo ZSCHIMMER & SCHWARZ


PACHEM


EcoCert Approved Active Ingredient #5204 www.antaria.com


PACHEM











Società del gruppo ZSCHIMMER & SCHWARZ




Società del gruppo ZSCHIMMER & SCHWARZ

DISTRIBUTORS

USA

Deveraux Specialities Llc

+1 818 837 3700

CANADA

Pachem Distribution Inc

+1 450 682 4044

BRAZIL

Maian Ltda

0055 11 4774.7010

COLOMBIA

Fehrmann S.A.

+571 287 80 47

INDIA

Connell Bros. Company (India) Pvt. Ltd.

+91 22 6613 8300

INDONESIA

PT. Manuchar Indonesia

+62 21 29 400 299

PHILIPPINES

Manuchar Philippines Inc.

+632 621 4061 to 65

SOUTH KOREA

Seil International Ltd

+82 2 581 0141

THAILAND

Manuchar Thailand Ltd

+662 862 2880

AUSTRIA

Neochem GmbH

+49 (0)2373 175139-31

BELGIUM

Comercial Quimica Masso S.A. France

+33 6 80 42 70 32

CROATIA

Comercial Química Massó, S.A. Magyarországi Fióktelepe

+36 1 4334849

CZECH REP.

Comercial Quimica Massó S.A. Czech Branch Office

+420 241 006 570

FRANCE

Comercial Quimica Masso France

+33 6 80 42 70 32

GERMANY

Neochem GmbH

+49(0)2373 175139-34

GREECE

Bregaglio S.r.l./ T. Foustanos&Co.E.E.

+39 039 492133

HUNGARY

Comercial Química Massó, SA Magyarországi Fióktelepe

+36 1 4334849

IRELAND

Infinity Ingredients Ltd

+44 (0) 1344 397 768

ITALY

Bregaglio S.r.l.

+39 492133

LUXEMBURG

Comercial Quimica S.A. France

+33 6 80 42 70 32

NETHERLANDS

Comercial Quimica Masso S.A. France

+33 6 80 42 70 32

POLAND

Comercial Quimica Masso w

(48 22) 46 56

PORTUGAL

Comercial Quimica S.A.

+34 93 495 25

ROMANIA

Comercial Química S.A. Magyarországi Fióktelepe

4334849

SLOVAKIA

Comercial Quimica Massó S.A. Czech Office

+420 241 006

SLOVENIA

Comercial Química Massó, Magyarországi Fióktelepe

+36 1 4334849

SPAIN

Comercial Quimica Masso, S.A.

+34 93 25 00

32

SWITZERLAND Quimica

GmbH

(0)2373 175139-31

UNITED KINGDOM

Ingredients Ltd

(0) 1344 354 908


For other areas not listed above, please email to info@antaria.com

Antaria Limited issued this content on 24 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 March 2016 02:16:06 UTC

Original Document: http://www.antaria.com/IRM/PDF/1691/AntariaUpdate