In a brief announcement to the stock market this week, Botry-Zen chairman Dr Max Shepherd said Mr Scandrett had made a wide-ranging contribution since the company was formed six and a-half years ago, helping to establish a solid operational base.
In early June, Botry-Zen, which has developed a product that fights a grape-wasting fungus, announced it had reduced its annual losses from $1.6 million last year to $1.22 million this year, but at the cost of an expanding overdraft facility.
Three weeks ago, Botry-Zen was well on the way to raising a further $1.8 million from a private placement of convertible notes and stapled options, subject to shareholder approval in August.
The company had received commitments for $1.3 million, including some from directors and, subject to shareholder approval, would seek leave to raise a further $500,000.
The funding would be used to increase production and develop product marketing.
