London-based independent investment management boutique, Sterling Investment Management Limited, has purchased two million shares in biotech firm Zoono Group Limited (ASX: ZNO).
The total consideration paid by Sterling was A$1.4 million, with the shares acquired from Zoono founder Paul Hysop’s family trust for A$0.70c per share.
In addition, Regal Funds Management Pty Ltd, a multiple Australian award- winning fund manager, has purchased five million shares at a price of AU$0.70 per shares for $3.5 million.
Paul Hyslop, through his family trust, still holds approximately 60 million shares (approx. 37%) in the company post these placements and remains by far the largest shareholder of the company. Mr. Hyslop says has no plans to sell any more shares in the medium term but appreciates that having well-regarded UK and Australian funds on the register may potentially attract more interest from the UK and Australian investment community.
Regal is a specialist Alternatives investment manager. Founded in 2004, it is one of Australia’s leading investment managers servicing a wide range of institutional and induvial investors. Regal purchased 15.3m shares in Zoono in February 2020 and since then have increased their position overall. Following this acquisition, Regal hold around 12% of the company.
Zoono Group Ltd was formed in 2007 after Mr Hyslop identified its potential and its application to industries in need a long-lasting antimicrobial solution.
Mr Hyslop combined the expertise of chemists and scientists in the USA and his home country New Zealand, to re-engineer the highly advanced version of the technology available today.
The re-engineered version of the technology later named the Zoono molecule is now in it’s ninth generation and sets Zoono apart from any other long-lasting sanitisers.
The exclusive low toxicity Zoono formulation is water-based and meets food contact and food packaging safety legislation from national government agencies. It kills many bacteria and viruses on surfaces long after applied and continuously outperforms competitor antimicrobial solutions.
And with a shelf life of four years efficacy within a wide temperature range, it is now available for use around people, pets and plants in homes and business.