INTERIM UPDATE
Date: 12 December 2017
RESTATEMENT OF KEY OPERATING MILESTONES (KOM''s)
As indicated in the market announcement of 30 November 2017, ONL has
commenced a review of its KOM''s to ensure they continue to meet the NXT
Standard.
As part of this review ONL has also been assessing its expected performance
under its current KOM''s and the likelihood of achieving its current full year
targets.
While this review is still ongoing, ONL can confirm that:
o It considers that its current KOM''s no longer meet the NXT Standard.
In particular, the current KOM''s do not capture the intended diversification
of ONL''s products and are concentrated on Manuka honey sales.
o It is unlikely to reach the full year targets for its current KOM''s
by more than 10%.
ONL is currently working with its NXT Advisor with a view to restating its
KOM''s and then setting new targets against those restated KOM''s. Once this
process has been completed and approved by the ONL Board, ONL will engage
with NZX for approval to formally restate its KOMs.
It is anticipated that new KOMs and targets will be advised to the market in
three to four weeks'' time.
ENDS
Authority for this announcement
Name of senior manager or director
authorised to make this announcement: Malcolm Lindeque
Contact phone number: 021 464 392
Contact email address: Malcolm@onlgroup.co.nz
Date of release: 12 December 2017
Oceania Natural Limited''s shares can be traded on the NXT Market. Oceania
Natural Limited is required to disclose information under the NXT Market
Rules. Information about the NXT Market and Oceania Natural is available here
www.nxt.co.nz or from the company''s website at www.onlgroup.co.nz
About Oceania Natural Ltd
Oceania Natural (ONL) produces and distributes healthy, high quality products
derived from natural food ingredients, including New Zealand Manuka honey as
well as Noni fruit sourced from the Cook Islands. More than 80% of the
company''s FY2016 sales were generated from China, where ONL has an
established network of distributors marketing its products under its "Rich
Garden" brand. The company also sells direct from its websites and through a
number of popular online trading platforms in China including Tmall, WeChat
and Alibaba.
See www.onlgroup.co.nz
End CA:00311783 For:ONL Type:NXTUPDTE Time:2017-12-12 09:40:39