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Advance ZincTek Limited (ASX:ANO)

ALERT: Price-sensitive ASX Announcement for ANO
Current share price for ANO : $0.600 0 (0%)+
Announcement
Release
8 Oct 2026 9:58AM
Price at Release
$0.600
Full Release
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Summary
Advance ZincTek Limited (ANO) announced that Australian first quarter FY27 revenue from its Veganic sunscreen-related sales fell 71%, after sales were materially affected by December 2025 ABC media coverage of MooGoo’s public comments about the zinc used in Veganic sunscreen products and the subsequent involvement of the Therapeutic Goods Administration regarding Veganic’s product labelling; ANO said a number of Veganic customers cancelled orders following those events, leading Veganic to cancel corresponding orders with ANO, and the company considers MooGoo’s allegedly misleading public statements to be the cause of the revenue impact, has engaged legal counsel, is preparing a claim for losses including quantum, expects proceedings to commence in the near future, and noted that first quarter results are a poor forward indicator and should not be taken as predictive of first half or full year FY27 results.
Key Points
  • ANO reported Australian first quarter FY27 revenue down 71% in relation to Veganic sunscreen product sales.
  • The decline followed December 2025 ABC reporting about MooGoo’s public comments on zinc used in Veganic sunscreen products.
  • The Therapeutic Goods Administration became involved in relation to Veganic’s product labelling.
  • Veganic customers cancelled orders after the media reporting and TGA involvement.
  • Veganic then cancelled corresponding orders with ANO.
  • ANO believes MooGoo’s misleading public statements caused the revenue loss.
  • ANO has engaged legal counsel and is preparing a claim against MooGoo.
  • No proceedings had commenced at the announcement date, but ANO expected to start them soon.
  • ANO said first quarter FY27 results should not be treated as a predictor of first half or full year results.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.