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YOWIE GROUP LTD — Regulatory Filings 2018
Jan 11, 2018
66111_rns_2018-01-11_edf85e05-1199-4ebf-ba9b-315fe978b8ca.pdf
Regulatory Filings
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12 January 2018
ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000
Stock Adjustment Claim
Yowie Group Ltd (ASX:YOW, OTC ADR: YWRPY)) (the “Group" or “Yowie”) advises that after a standard periodic internal audit of its suppliers, the Group’s major US retail customer retrospectively claimed payments based on various stock adjustment factors relating to the last two years.
Negotiations on the quantum and merits of the claim were conducted and have now successfully concluded. Yowie has agreed to pay a total of US$1.95 million for claims going back two years, to February 2016, to be paid progressively over the next twelve months.
The Board is satisfied that this event will not adversely affect the trading relationship or outlook with the customer nor the recently revised year-end revenue guidance. Increased retail penetration is continuing in the US, Canada and Australia.
Mark Schuessler Global CEO
Investor enquiries: Michael Brown +61 (0) 400 24 8080
Head Office
Yowie Group Ltd Level 4, 216 St Georges Terrace Perth WA 6000
PO Box 7315, Perth WA 6850 Phone +61 8 6268 2640 Fax +61 8 6268 2699
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ABN 98 084 370 669