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JATCORP LIMITED — M&A Activity 2019
Jan 30, 2019
65154_rns_2019-01-30_02b1cdd4-fd2c-48e6-a5f4-199c174d4200.pdf
M&A Activity
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JATENERGY LIMITED
ASX ANNOUNCEMENT
31 January 2019
ABN 31 122 826 242
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE
Office B, Suite C303, 521 Toorak Road TOORAK VIC 3142 AUSTRALIA
CONTACT DETAILS Telephone +61 488 248 138 Email [email protected] Web www.jatenergy.com
JAT signs MOU with Sinopharm to supply JAT products in China.
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Sinopharm is one of the world’s biggest pharmaceutical companies with over 5,000 stores across China
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JAT and Sinopharm to carry out sales work for JAT’s brands in China.
MOU of Strategic Partnership Agreement
JAT has entered into an MOU of Strategic Partnership Agreement to jointly with Sinopharm carry out sales work for JAT’s existing brands in China whereby JAT will be responsible for supplying its goods and related services to Sinopharm.
As announced to the ASX on 7 September 2018, JAT subsidiary, Green Forest International Pty Ltd has entered into a distribution agreement to provide its products to the Sino O2O sales channel. The MOU between JAT and Sinopharm represents an extension of the Green Forest relationship to apply to all products sold by JAT and all of its subsidiaries.
About Sinopharm
Sinopharm is the largest Chinese medical and healthcare group directly managed by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). It ranks 194[th] in Fortune’s 2018 Global 500 and is the sixth biggest pharmaceutical company on the list with annual revenue in 2017 of US$51.8 billion.
Material terms
The material terms of the MOU include:
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The agreement has a term of one year commencing immediately. If JAT and Sinopharm are satisfied with each other’s performance under the MOU, the MOU will automatically continue for the following year.
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There are no conditions precedent or specific termination provisions contained in the MOU.
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The MOU does not provide for any minimum quantities or conditions precedent.
Wilton Yao
Executive Director