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DATADOT TECHNOLOGY LIMITED — Capital/Financing Update 2013
Nov 21, 2013
64764_rns_2013-11-21_5936221a-aff7-4092-bcf5-be65b2184e52.pdf
Capital/Financing Update
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DataDot Technology Limited ABN 54 091 908 726
Securities Exchange Announcement
22 November 2013
Canadian Joint Venture to be Established with RSR Solutions Inc.
The Directors of DataDot Technology Limited (ASX:DDT) announce that a Letter of Intent (“LOI”) has been executed with RSR Solutions Inc. (“RSR”) to establish a 50/50 joint venture company to market DataDot asset identification products and services in Canada.
RSR is a leading manager and marketer of technology solutions for the Canadian retail automotive industry. Through its national vehicle registration and recovery service (globali.com), which is marketed by 500 member auto dealers and used by millions of motorists, RSR has become Canada’s recognised leader in vehicle theft prevention, protection and recovery.
Under the terms of the LOI:
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the JV company will be granted an exclusive 5 year distribution licence to market DataDot pen applicators and DataDot Metallic to the Canadian auto, retail consumer and industrial markets;
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RSR will establish an on-line Canadian registry of marked assets for each of these market segments, so extending DataDot’s national asset register strategy that currently includes equipment, metal, marine and bike registers across Australia and the US. Registry data will be accessible to owners of marked property and law enforcement agencies 24/7;
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RSR will develop and manage an insurance program for registered marked assets, which will provide financial compensation to insured customers in the event that a marked asset is stolen.
The JV company is expected to be launched in January 2014.
Contact Information:
DataDot Technology Limited Bruce Rathie, Executive Chairman Phone: 02 - 89774900 e-mail: [email protected] web site: www.datadotdna.com
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