Western Australia's eighth biggest winemaker, 3 Oceans Wine Company, has laid-off non-essential staff as it reconsiders its strategic direction in the face of falling demand from its key market in China.
Palandri Ltd's planned Australian stock market float appears to be gathering momentum, with industry sources revealing the Margaret River winery has appointed a stockbroking firm to advise its listing.
West Perth-based Palandri Ltd will seek a listing on the Australian Stock Exchange following unanimous shareholder backing for the move at the company's AGM in Sydney today.
Margaret River winemaker Palandri Ltd has announced plans to issue $6 million worth of shares to investors, including chief executive Darrel Jarvis, ahead of the company's listing on the ASX.
If there is one thing Palandri Ltd chief executive Darrel Jarvis has in abundance, it is unbounded optimism about the future of his Margaret River wine business.
Margaret River wine producer Palandri Ltd has again surprised the market by reporting an unexpectedly high profit and announcing plans to delist from London's Alternative Investment Market and list on the Australian Stock Exchange.
MARGARET River winemaker Palandari remains confident it will list on London's Alternative Invest-ment Market despite failing to meet its intended float date of May 13.
