Australia's wellness products firm Holista at 8-week high on interim CEO appointment

Holista Colltech

03/01/2025 03:24

Jan 3 (Reuters) -    ** Shares of Holista Colltech
 HCT.AX  rise as much as 6.3% to A$0.017, their highest since
Nov. 7 last year
    ** Australian wellness products firm names Leong Man Loong,
it's second-largest shareholder with a 12.7% stake, as its
interim CEO
    ** Loong's appointment comes after HCT in November paid the
first tranche of an A$1.8 mln ($1.12 mln) court-ordered penalty
    ** The Federal Court in March 2024 imposed penalty on HCT
for making misleading statements regarding its sanitiser product
between January and July 2020, and barred then CEO Rajen
Marnickavasagar from managing a corporation for four years
    ** Loong has agreed to a nominal remuneration package of A$1
for his initial engagement period of six months
    ** Stock advanced 30% last year, after slumping more than
86% between 2021 and 2023   
    
    
    ($1 = 1.6100 Australian dollars)

 (Reporting by Jasmeen Ara Islam Shaikh)
 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))