New Trend Lifestyle Group plc Business Partnership Agreement (4010V)
08 Abril 2019 - 1:00AM
UK Regulatory
TIDMNTLG
RNS Number : 4010V
New Trend Lifestyle Group plc
08 April 2019
8 April 2019
RNS ANNOUNCEMENT: The information communicated in this
announcement contains inside information for the purposes of
Article 7 of Regulation 596/2014.
New Trend Lifestyle Group plc
("NTLG" or the "Company" or the "Group")
Business Partnership Agreement
New Trend Lifestyle Group plc (AIM: NTLG), the Singapore-based
Feng Shui products and services group, announces a new business
partnership agreement ("the Agreement") between New Trend Lifestyle
Pte Ltd ("NTLSG"), the trading subsidiary of the Group and GDI
Capital Corporation Pte Ltd ("GDI").
GDI has a database and platform targeting English-speaking
customers in Asia, and has developed an App, which is a mobile
application which includes Feng Shui daily forecasts, tarot
readings as well as instant advice from a consultant team. Under
the terms of the Agreement, NTLSG will provide content for this
App.
The main terms of the Agreement are as follows:
-- NTLSG and GDI will share revenue earned under the terms of the Agreement equally;
-- GDI will bear the marketing and operating costs of the App;
-- NTLSG will provide the Feng Shui Masters' time and consultancy services; and
-- The Agreement will run for a period of two years, with an
option to extend by a further two years by agreement.
GDI has also agreed to subscribe SGD100,000 by way of a new
issue of 500,000 shares in New Trend Lifestyle Pte Ltd ("New
Shares"). Following this share issue, the share structure of NTLSG
will be:
Shares in NTLSG %
New Trend Lifestyle
Group plc 3,000,000 85.71
GDI 500,000 14.29
Total 3,500,000 100.00
There is an understanding in the Agreement that NTLSG intends to
buy back the New Shares from GDI after two years for a price of
SGD200,000, if the venture is successful and further conditions are
met. Further announcements will be made on that, as appropriate, at
the time.
The Directors believe that business partnership agreement with
GDI further enhances the sales and marketing initiatives of the
Group, and the Board are hopeful of a positive outcome to the
partnership.
END
For further information:-
New Trend Lifestyle Group Plc
Gregory Collier, Non-Executive Chairman +44 (0) 7830 182501
SPARK Advisory Partners Limited (NOMAD) +44 (0) 20 3368
Mark Brady/Neil Baldwin 3551
SI Capital Ltd (Broker)
Nick Emerson +44 (0)1483 413500
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGREASLPESANEEF
(END) Dow Jones Newswires
April 08, 2019 02:00 ET (06:00 GMT)
Conduity Capital (LSE:CCAP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Conduity Capital (LSE:CCAP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024