Plentex Limited, formerly Plenty River Corporation Limited, listed on the ASX in 1983 and operated as a minerals exploration company in Australia and several overseas countries. In 2006 the Company acquired mining and exploration interests in North Queensland held by privately owned Georgetown Mining Limited and several ASX listed companies. In accordance with ASX Listing Rule requirements, trading in the Company’s securities following these acquisitions was suspended in November 2006. The Company was unsuccessful in attempts to raise funds which would have led to its reinstatement of trading in late 2007 due to the onset of the global financial crisis and in May 2009 reluctantly sold its gold mining project and exploration interests in North Queensland to the Australian subsidiary of the German company, Deutsche Rohstoff AG, which subsequently brought the gold mining project into production.
In October 2009, Plentex signalled an exciting new direction with an investment in Victorian based private company, Blue Sundial Pty. Ltd., which it ultimately acquired in September 2011, with the aim to become Australia’s first commercial supplier of algae as a sustainable resource for multiple industries. Through collaborations with the South Australian Research & Development Institute (SARDI), Flinders University, and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Plentex identified that the most promising commercial opportunities available to it for algae were in high value nutraceutical markets and as a fish oil replacement in aquafeed.
Over the next four years both opportunities were developed in tandem. Further investigation revealed significant opportunities in aquafeed even without algae input. In late 2013, the Company’s biotechnology pathway was dramatically advanced when the opportunity emerged to acquire an existing range of algae-based anti-fungal products that could generate immediate cashflow. A spin-off company, Xerion Limited, was formed in May 2014 to finance and develop the Company’s expanding biotechnology-related business interests.
The year 2013 was also marked by Plentex’s establishment in conjunction with Flinders Partners Pty Ltd (the commercial arm of Flinders University) of Nest Group Limited whose business platform was to be the commercialisation of technology developed in selected partner universities. In June 2014, Nest Group Limited was acquired by Nideux Limited (subsequently renamed UnIPartners Limited) resulting in Plentex becoming UnIPartners then largest shareholder.
In late 2014 Plentex established Plentex Philippines Inc. to focus on the development of agri-business opportunities in the Philippines which would become Plentex’s core business and also Protemax Pty Ltd as the corporate vehicle for its proposed Victorian based aquafeed/petfood manufacturing activities.
Plentex expects to be recapitalised and to recommence trading on the ASX in 2017 after which it plans a dual listing on the Philippines Stock Exchange.