AI assistant
JATCORP LIMITED — Capital/Financing Update 2018
Jun 19, 2018
65154_rns_2018-06-19_8eae2d88-e301-49cb-8965-1b0ef597b3f3.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [204 x 62] intentionally omitted <==
JATENERGY LIMITED
ASX ANNOUNCEMENT
20 June 2018
ABN 31 122 826 242
ASX CODE: JAT
China Business Update
AUSTRALIAN REGISTERED OFFICE
Unit 23 376-380 Eastern Valley Way CHATSWOOD NSW 2067 AUSTRALIA
CONTACT DETAILS Telephone +61 488 248 138 Email [email protected] Web www.jatenergy.com
1. Development of Sunnya business
On 13 June 2018, JAT announced the acquisition of 51% of Sunnya Pty Limited (“Sunnya”). The acquisition will only proceed if JAT shareholder approval is obtained to the transaction at the proposed general meeting of shareholders, expected to be held in August 2018.
One of Sunnya’s key products is NEURIO – Lactoferrin Milk Powder which is primarily sold in maternity, baby stores and local supermarkets.
JAT has succeeded in leveraging its relationship with the Sheng Run Group by securing an order from the Sheng Run Group to purchase NEURIO – Lactoferrin Milk Powder from Sunnya. The first order is for 960 tins. The sale of by Sunnya of NEURIO will proceed even if JAT shareholders do not approve the Sunnya acquisition.
The sales strategy of Sheng Run is to sell the NEURIO – Lactoferrin Milk Powder to members of the “Hui Yue City”, being the local residents at its Hui Yue Shopping Mall.
The JAT directors are continuing to leverage the JAT distribution network to sell products produced by its recent acquisition, Golden Koala Group Pty Ltd, and its two proposed acquisitions, Green Forest International Pty Limited and Sunnya.
2. ‘Jat Maternity and Children’ Shops
The JAT directors have advanced the development of the first JAT Maternity and Children’s Shop in the Hui Yue Shopping Mall in Zhengzhou. During an inspection visit last week, the directors finalised details such as shop size, design, fit out and product range. Arrangements were also put in place for the logistics of delivering JAT products to the Hui Yue Shopping Mall and other locations where JAT Maternity and Children’s Shops are to be established in other Sheng Run Group shopping malls.
Anthony Crimmins Executive Chairman