WLL - Wellco - Announcement Of Conclusion Of An In
WLL
WLL
WLL - Wellco - Announcement Of Conclusion Of An International
Supply Agreement
Wellco Health Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/005805/06)
Share code: WLL & ISIN: ZAE000071841
("Wellco" or "the company")
ANNOUNCEMENT OF CONCLUSION OF AN INTERNATIONAL SUPPLY AGREEMENT
Further to the cautionary announcement on 16 November 2006, the company is
pleased to announce the signing of an international supply agreement that
will materially enhance the turnover of the company in the year ending 28
February 2008.
The agreement is for the supply of a licensed product to help address
malaria to a European humanitarian and medical foundation ("the
purchaser"). The purchaser wishes to distribute this product in certain
African countries through their health and development aid programmes.
The major terms and conditions of the supply agreement are:
- the payment by the purchaser of a deposit for 50% of the full purchase
price by no later than 31 March 2007;
- the registration of the product in the African countries for
distribution; and
- the completion of a technical due diligence of the facilities and
manufacturing capability.
As a result of this agreement, Wellco Health is to exercise its exclusive
option to acquire 100% of the intellectual property of this product for
ZAR579,633
Johannesburg
28 February 2007
Designated Advisor
River Group
Date: 28/02/2007 09:07:23 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
