New and noteworthy

$6.7 MILLION RAISED

The Group successfully raised $6.7 million (net of costs) which was well supported by existing shareholders and brought in a number of new institutional investors.

HARPIN αß LAUNCHED INTO SUGARCANE IN BRAZIL

In 2018, demonstration field trials showed an average yield increase of over 20%. Initial demand from growers was very encouraging (20,000 hectares treated). We confidently expect sales in Brazilian sugarcane to build over the coming years.

CORN SEED TREATMENT LAUNCH

Harpin αß has been launched as a seed treatment product for field corn in the US and will be marketed and sold as a mixture product by a leading supplier to the US corn grower. Excellent opportunity for Plant Health Care to gain access to the 90 million acre US corn market.

H1 — POSITIVE PEPTIDE RESULTS

In the first half of 2018, evaluation partners reported positive results with our lead peptides in a range of more than 10 crops, uses and regions.

SEASONALITY OF REVENUE

Sales to some of our distributors are done in advance of the year-end in order to secure their inventory levels for next year’s growing season.

HARPIN αß WINS PRESTIGIOUS GLOBAL AWARD

Plant Health Care awarded the prestigious global Best New Biological Product award for work with Harpin αß in citrus in Spain.

ADDITIONAL PREtec AGREEMENTS SIGNED

Three more global agricultural/seed companies have signed agreements to evaluate Plant Health Care’s PREtec product candidates on multiple crops on three continents. These new collaborators are seeking novel, low toxicity biological products such as PREtec, to enable farmers to be more productive with lower environmental impact.

INNATUS 3G FIELD TRIALS

We are continuing field trials with the Group’s Innatus 3G peptide PHC279 against Asian Soybean Rust (ASR) in Brazil.

SOUTH AFRICAN DROUGHT

South Africa experienced a prolonged drought in 2018 which has resulted in slower draw-down than expected on in-market inventory.