Monday, 26 November 2012

Neptune Lays Out Action Plan & Announces Conference Call

Neptune Technologies & Bioressources
TSX: NTB - NASDAQ: NEPT
Basic Shares: 48.2 million
Fully diluted: 53.9 million
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Late today, Neptune provided investors with an action plan outlining details on the resumption of operations after the incident that occurred on November 8, 2012 at its production plant located in Sherbrooke, Quebec and  “ to progressively supply customer demands in the interim.”

In the release, Neptune reiterated its focus on its employees and the families of those most affected by the incident, and supporting them through the tragedy.

Neptune believes it remains a viable business and it is committed to recovering from the incident. Key milestones and targets outlined in the release are as follows:
  • Resuming its neutraceutical operations and certain levels of sales of its Neptune Krill Oil® products to customers in the short term;
  • Maintaining key customer relationships and market share, particularly until production of Neptune Krill Oil® products can reach pre-incident levels;
  • Reconstructing an operational plant using the expansion facility that was under completion and certain existing equipment in the expansion, which expansion and equipment do not appear to have suffered considerable damages from the incident;
  • Pursuing partnerships and/or arrangements with one or more strategic partners for the outsourcing of production for Neptune Krill Oil® products, both as an interim measure to ensure certain levels of production prior to its new plant being fully operational and as a longer-term strategy to diversify sources and means of production; and
  • Prudently managing its financial resources while continuing its product development and clinical trials, including defending its patents and intellectual property and supporting as planned the pharmaceutical development of its two subsidiaries, Acasti Pharma Inc. ("Acasti") and NeuroBioPharm Inc. ("NeuroBio"), whose operations have not been interrupted as a result of the incident.
The new release also provides detail around the following:

  • Plant Reconstruction and Insurance
  • Operations and Arrangements with Strategic Partners
  • Human Resources
  • Finance, Use of Public Offering Proceeds and Investor Communication
  • Incident Investigation and Environment
  • Activities of Neptune's Subsidiaries - Acasti Pharma Inc. and NeuroBioPharm Inc.

Neptune will be holding a conference call on Tuesday, November 27, 2012 at 9:00AM ET. The call will focus solely on the presentation of Neptune's action plan to resume operations.

The conference call hosts will be:
  • Henri Harland, President & CEO
  • Andre Godin, CFO
  • Harlan Waksal, Board Member
To access the conference call by phone within Canada & the U.S., the toll-free number is 1-877-380-5664. Outside Canada and the U.S., dial 1-631-813-4882

Conference call details:

Conference Topic: Neptune Technologies & Bioressources - Announcement Conference
Conference ID: 75271239

Management will not accept questions at the end of the presentation.
An archived recording of the webcast will be available on Neptune's website (www.neptunebiotech.com) shortly after the webcast.


To view the full news release on the Action Plan, please click here.