Veteran wine industry player Mike Calneggia has resigned from Australian Wine Holdings Ltd, the company which is chasing resources investments after selling the bulk of its wine assets in the wake of the grape glut.
South Perth-based Australian Wine Holdings Ltd will raise $1.5 million through a placement managed by Resource Venture Capital Partners Pty Ltd, with the group also to advise on new opportunities, following the divestment of most of AWL's wine assets.
A lack of support for the wine sector by financial institutions and investors has led Australian Wine Holdings Ltd's to turn its back on the industry and search for alternative investments.
Australian Wine Holdings Ltd has conditionally agreed to sell its wine distribution business, Wine Shack Pty Ltd, to a company associated with its managing director Mike Calneggia.
South Perth-based wine producer Australian Wine Holdings Ltd has advised the placement of 48.6 million ordinary fully paid shares at 0.8 cents each has raised $388,800.
Australian Wine Holdings Ltd has expanded on its wine supply agreement and joint venture arrangement with McWilliam's Wines Pty Ltd to include the award winning "Hay Shed Hill" and "Pitchfork" wine labels.
Australian Wine Holdings Ltd 8-Aug-05 Has finalised the sale and lease back of the Karridale Vineyard with settlement being effected on Friday 5 August 2005.
Australian Wine Holdings Ltd 25-Jul-05 Finalised the terms of a wine supply agreement, incorporating a joint venture arrangement with McWilliam's Wines Pty Ltd.
AUSTRALIAN Wine Holdings is preparing the groundwork for a major acquisition with a fund raising effort to pay off debt associated with the purchase of Hay Shed Hill Estate for almost $6.3 million last year.
