JSE-listed Nutrihold’s fortunes have been spinning more wildly than a roulette wheel at a casino, but there cannabis gamble may be paying off. The troubled company shared some good news with investors – it multi-million rand immune booster export order is back on track.
In a statement released through the SENS on 26 May 2021, the company said that the Covid-19-related supply chain problems it had been experiencing with its export orders had been cleared up.
“Shareholders are referred to the announcement published in SENS on 24 May 2021 in which they were advised that the Company had been instructed by its customer to temporarily halt supply on the international agreements, namely GIH Distributors and Grovenor Supplements FZCO, based on concerns regarding the supply chain including packaging and supply requirements and transit restrictions as a result of the increase in South Africa’s COVID-19 statistics which could result in the product needing to be chemically sanitised and quarantined.
“Nutritional Holdings is pleased to advise shareholders that the customer has advised the Company that:
- all product at the port of destination has been cleared as having conformed to international standards;
- it has conducted its own investigations in respect of packaging standard
- CV73893/UN1017 and provided that the outer packaging of all future product boxing is wrapped in sterilised plastic in conformance with SANS 490:2013 and accompanied by a sanitation confirmation certificate, the product itself will not need to be chemically sanitised or quarantined; and
- that on the basis of the above it is to proceed with production in respect of the above agreements.
Shareholders are accordingly advised that the cautionary announcement is now withdrawn.”