Cabonne, the Australian winemaker, is to relaunch itself in an effort to simplify its ownership structure for investors to understand.

According to Australian press reports, the group will unveil an $A18m capital raising and management restructure on 22 April 2002. Cabonne will also change its name to Reynolds Wines .

The Cabonne board believes the new structure will be much easier for the market to understand. The group has so far failed to strike a cord with investors. Its shares launched at A$1 on the Australian Stock Exchange in 1999, but plunged to a low of $A0.255 by 2001. The group owned the vineyards but individual farmers owned the vines.