E-Malt.com News article: Australia: Oz Brewing Limited to operate Mad Monk Boutique Brewery by November 2006

Australia's national liquor market is to get a second listed boutique brewer under plans announced August 31 for a proposed capital raising and listing on the ASX, ACN Newswire released August 31. The main asset behind the proposed $3 million capital raising and ASX listing by Perth-based craft brewing company, Oz Brewing Limited, will be the Mad Monk Brassiere, in the old Miss Maude site in the heart of Fremantle.

Oz Brewing aims to have the Mad Monk boutique brewery operating as the Company's flagship brewing headquarters by November this year.

Any successful listing would be the second such boutique brewer on the Australian bourse.

"Fremantle was selected as the host start-up site as it has a national reputation for its food, wine and beer and the Mad Monk Brassiere is a natural fit both as a brewery business and a major new tourist attraction," Oz Brewing's Managing Director, Mr Trevor Pugh, said August 30.

"The city is also home to an endless variety of brewing credentials with the Sail and Anchor, Matilda Bay Brewing, Gage Roads Brewing and ASX-listed Little Creatures all based there and recognised as producing some of Australia's finest boutique brewed beer," Mr. Pugh said.

Although the prospectus for the Oz Brewing float is still being finalised, Mr. Pugh said the Company expected to issue up to 15 million 20 cent shares to raise up to $3 million with an allowance for oversubscriptions totaling a further AU$1.5 million.

The Company has already purchased the micro brewery plant and ancillary equipment for the Fremantle operation, appointed a head brewer and registered its Mad Monk Brew Cafe brand name and associated products.

"Our objective is to develop a new micro brewery which produces a range of premium boutique beers on premise for over-the-counter sales, in addition to the progressive development of sales of packaged product through a national and international network," Mr. Pugh said.

"The micro brewer segment of the beer market is growing faster than the broader premium segment and is up more than 40% in recent years.

"The potential in Australia is considerable, following the resounding success of micro breweries in the UK and United States."

The landmark South Terrace site, situated in the heart of Fremantle, will undergo a complete refurbishment from late in September to convert it into a beer styled brassiere "to meld with Fremantle's vibrant cafe culture," Mr. Pugh said.

The Company has appointed award winning brewer, Mr. Richard Moroney, as its Head Brewer. He has spent the past three months formulating and refining the Mad Monk brassiere's beer offering for the November launch.

"Boutique brew-cafes are springing up around Australia with their own range of crafted beers to compliment today's relaxed food menus," Mr. Pugh said.

"Where beer was once always served in a middy or a schooner, now the finest crafted varieties are being served in a flute or a balloon a flute to accentuate the beer's sweetness, while a balloon draws out the natural hops bitterness."

Sales of premium beers in Australia reportedly grew an estimated 13% to $735 million in 2003, and now account for 10 % of total beer sales.

Oz Brewing is currently evaluating other sites in the Perth metropolitan area and regional areas of Western Australia as part of plans to establish its initial Mad Monk network of beer cafes.


31 August, 2006