Frankland River Olive Company has appointed Mark Hohnen as chairman and non-executive director. Mr Hohnen was the founding chairman of both Cape Mentelle Vineyards and Cloudy Bay Vineyards. He has been an investor and keen follower of the olive industry in Western Australia since 1999. As outlined in FROC’s prospectus, dated April 27 2006, Mr Hohnen’s appointment to the board was subject to the successful restructure and ASX listing of the company. FROC listed on the ASX on July 14 at 30 cents, a five-cent premium on its issue price, and closed at the end of last week at 23 cents. The listing follows FROC’s restructure into a single vertically integrated olive business. The company raised $5.88 million from the issue of 23.5 million shares by way of a rights issue to shareholders.
© Business News 2018. You may share content using the tools provided but do not copy and redistribute.