Bellamy's Australia Ltd 

BAL Details

Bellamy's Australia Limited (ASX:BAL) announced that following discussions between Australian trade officials (including representatives of the Commonwealth Department of Agriculture and Water Resources (DAWR)) and representatives from the CNCA, the CNCA has made enquiries and requested certain information of Camperdown and the DAWR (as the relevant Australian regulator). Bellamy's is advised that CNCA has not made any findings against Camperdown and is following its processes and procedures, which the Company respects. Bellamy’s understands that the enquiries raised by CNCA were as a result of allegations received by CNCA from a third-party complainant relating to historical filing and records and to certain previous quality issues relating to Camperdown’s processing facility.

Further, Bellamy’s can confirm that none of the enquiries raised by the CNCA relate to microbiological or contamination issues or Camperdown’s recent change of ownership. However, the suspension of Camperdown’s CNCA registration does not impact the current production or sale of Bellamy’s ‘Australian label’ or ‘Chinese label’ product. It relates only to the manufacture of third-party products at the Camperdown facility. As previously, Bellamy’s does not intend to process its products at the Camperdown facility until fiscal year 2H2018. Until then, the Company will continue to rely on third party manufacturers to manufacture its 'Chinese label' product into China. The securities of Bellamy’s Australia Limited were suspended from quotation till further update from the Company. We maintain a “Hold” recommendation on this dividend yield stock at the current price of $6.74


BAL Daily chart; (Source: Thomson Reuters)

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