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COMPLII FINTECH SOLUTIONS LTD — Capital/Financing Update 2015
May 21, 2015
64639_rns_2015-05-21_2a4e5d7a-3b2c-4882-8b18-ae850ec95c97.pdf
Capital/Financing Update
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Resource Star Limited Suite 9, Level 2, 330 Churchill Avenue, Subiaco WA 6008 P. +61 8 6489 1600 F. +61 8 6489 1601 ABN 71 098 238 585
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22 May 2015
The Manager Market Announcements Office Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000
CANDY CRUSH CONFECTIONERY SALES GAIN SOLID MOMENTUM ACROSS GREATER CHINA
Highlights
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Solid traction achieved from Candy Crush confectionery sales in Greater China.
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Over 33 tonnes sold to date, throughout China and Taiwan.
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Increase in average margins across all product offerings.
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Monthly growth in revenues and margins demonstrates positive uptake of product offering and validation of the growth opportunity for the business model.
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Further plans to expand into new regions and increase distribution of the Candy Crush confectionery advancing well.
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RSL strategically positioned to gain market share and roll out additional products across the region.
Sales Update
Resource Star Limited (ASX: RSL ) (“ The Company ”) is pleased to provide an update on the performance of its recent investment (via Sugar Dragon Limited) in the Candy Crush confectionery business, Okmno Asia Limited (“ Okmno Asia ”).
Okmno Asia holds an exclusive license to produce and distribute Candy Crush branded confectionery in the Greater China region through its established production and distribution partnerships.
On the 23 April 2015, RSL announced an agreement to acquire a 60% interest in Sugar Dragon Limited (“ Sugar Dragon ”), which owns a 72.5% interest in Okmno Asia and a first right over the remaining 27.5% interest. Following which, the due diligence pertaining to this transaction has now been completed.
Funds raised by way of the $200,000 convertible note (announced on 20 May 2015) enable Okmno Asia to manufacture further products and continue to drive distribution of the Candy Crush confectionery as it looks to expand across further territories in the near-term.
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RESOURCE STAR LIMITED
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RESO0C0R\ASX224
Products Sold:
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----- Start of picture text ----- 30g packet 90g packet 100g packet14.40 tonnes 3 tonnes 16.28 tonnes----- End of picture text -----
Mathew Walker, Non-Executive Director of Resource Star Limited commented:
“ The increase in revenues and average margins across Okmno Asia’s products in the short time frame demonstrates the growth potential and market opportunity for the business. It also provides further validation of the Okmno Asia business model and RSL’s acquisition in this business. The board is encouraged by these results and we look forward to providing further updates on the investment progress and Okmno Asia’s business .”
The announcement is still subject to shareholder and regulatory approvals and as previously announced the investment will constitute a change in the nature of RSL’s activities requiring the Company to re-comply with the requirements in Chapters 1 and 2 of the ASX Listing Rules.
For and on behalf of the Board of Resource Star Limited
Mathew Walker
Director
For further information contact:
For media enquiries:
Resource Star Limited Media & Capital Partners Mathew Walker, Director: Asher Moses, Director: E: [email protected] [email protected] T: +61 8 6489 1600 +61 438 008 616 F: +61 8 6489 1601