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STAR COMBO PHARMA LIMITED — Capital/Financing Update 2019
Dec 23, 2019
65746_rns_2019-12-23_b636bfd6-c94d-4397-b955-2e32de1ff146.pdf
Capital/Financing Update
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STAR COMBO PHARMA LTD ABN 38 6157 283 75 171 -177 Woodpark Rd Smithfield NSW 2164 P: +61 2 9756 6555 [email protected]
24 December 2019
ASX Announcement
Star Combo Acquisition of iNature - Clarification Statement
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Further to the ASX Announcement made by Star Combo Pharma Limited (S66) on 18 November 2019 regarding the proposed acquisition of Australian Inature Organic Care Pty Ltd (iNature), Star Combo now wishes to provide for clarification, the following additional details of the proposed transaction.
S66 has an Option to acquire 51% of iNature. The Option period is from the date of the Agreement to 30 June 2020 or the 10th business day from the date that the value of the net assets of iNature is agreed between the parties.
The acquisition transaction is to be funded by S66 Group’s internal funds, no capital raising is anticipated.
The Option Fee of $300,000 which is refundable if the option is not exercised, has been paid out of operating funds.
The value of the net assets of iNature needs to be agreed between the parties or confirmed by an Independent Professional Party before the Option is exercised.
For more information please contact:
Su Zhang - CEO Peter Taylor - Investor Relations Star Combo Pharma Limited [email protected] Ph: 0412 036 231
About Star Combo Pharma
Star Combo Pharm (ASX: S66) is a leading distributor and manufacturer of branded premium health and natural beauty products. Based in Sydney, our products are distributed to both local Australians and to overseas markets. Star Combo has offices and distribution agreements in China and currently supplies Australian pharmacy lines as well as distribution to over 450 Terry White and Symbion Chemists and wholesale customers in Australia and China. Directed by pharmacists and experts in health supplement manufacturing, Star Combo's vision is to curate health products made from natural ingredients with scientific R&D and manufacturing practices. Since its establishment in 2004, Star Combo has demonstrated strong product and business development and continues its vision to expand current operations to serve its loyal business partners, customers and employees.
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