OTHERS ESTHETICS INTERNATIONAL GROUP BERHAD Exclusive distribution of Depileve professional waxing products in Malaysia.

ESTHETICS INTERNATIONAL GROUP BERHAD

Type Announcement
Subject OTHERS
Description
ESTHETICS INTERNATIONAL GROUP BERHAD
Exclusive distribution of Depileve professional waxing products in Malaysia.

Esthetics International Group Berhad (“EIG”) is pleased to announce the signing of a Distribution Agreement (the “Agreement”) on 1 October 2018 between EIG Dermal Wellness (M) Sdn Bhd (“EIGDW”), a wholly-owned subsidiary of EIG, and Grupo DRV-Phytolab S.L. (“DRV”).

The Agreement grants EIGDW the exclusive right to sell and distribute Depileve professional waxing products in Malaysia for an initial period of ten (10) years from 1 October 2018 to 30 September 2028, which will automatically renew for a further ten (10) years until 30 September 2038.

The Agreement will enable EIG to further leverage and expand its distribution portfolio to include the distribution of professional waxing products through the professional salon channel in Malaysia.

Depileve is the leading brand in professional waxing products for hair removal treatment from Spain with over 36 years’ history and distribution in 110 countries globally.

The Directors of EIG, having considered all relevant factors, is of the view that it is in the interest of EIG for EIGDW to enter into the Agreement

The signing of the Agreement will not have any effect on the share capital and substantial shareholdings structure of EIG. With focused and prudent sales and marketing efforts and barring unforeseen circumstances, the Agreement is expected to positively contribute to future profits, earnings per share and net assets of EIG.

None of the Directors of the Company, substantial shareholders and/or persons connected to them has any interest, direct or indirect in the above transaction.

This announcement is dated 2 October 2018.






Announcement Info

Company Name ESTHETICS INTERNATIONAL GROUP BERHAD
Stock Name EIG
Date Announced 02 Oct 2018
Category General Announcement for PLC
Reference Number GA1-02102018-00067