Tiger Brokers

BUZZ-Australia's Zoono rises on packaging deal with South Africa's Mpact

Reuters
Nov 06
BUZZ-Australia's Zoono rises on packaging deal with South Africa's Mpact 

** Shares of antimicrobial products manufacturer Zoono Group ZNO.AX rise as much as 43.5% to A$0.066, their highest since May 21

** Co and its partner OSY Group enter an exclusive agreement with South Africa-based Mpact Operations

** Agreement allows Mpact to use ZNO's shelf-life extension products and OSY's application technologies to improve its own packaging solutions

** Says minimum purchases over the five-year term to maintain exclusivity will total NZ$5.1 million ($2.92 million)

** Trading volumes ~7x the 30-day average of 185,620 shares

** Stock up 164% YTD, including the day's move

($1 = 1.7443 New Zealand dollars)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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