Asia Ceramics Holdings PLC Sales Agency Relationship (4915Z)

TIDMACHP

RNS Number : 4915Z

Asia Ceramics Holdings PLC

07 March 2013

Asia Ceramics Holdings plc

('Asia Ceramics' or 'the Company')

Sales Agency Relationship

Further to the announcement of 30 May 2012 regarding the a sales agency relationship with Louis Valentino Investment and Development Company Limited ('LVID'), a subsidiary company of China Ceramics Holdings plc, a company that is owned and controlled by Dr Tom Pu, chief executive of Asia Ceramics, the Company announces that since that date it has sold to LVID goods to the value of $1.97m. The goods were sold on to third parties by LVID for the same value as it purchased them from Asia Ceramics.

The Company has formalised the relationship and entered into an agreement with LVID and its parent Company, China Ceramic Holdings Limited, ('CCH') whereby it has agreed to act to promote sales of Asia Ceramics goods through LVID or CCH, (the 'Sales Agreement'). Under the terms of this agreement any further goods sold to LVID or CCH would be sold on to third parties at the same value.

These sales transactions and the Sales Agreement are related party transactions under the AIM Rules. The independent directors, being the directors of the Company other than Dr Pu, consider , having consulted with WH Ireland , that the terms of the transactions and the Sales Agreement are fair and reasonable insofar as its shareholders are concerned.

Enquiries

   Frank Lewis, Chairman                  Asia Ceramic Holdings plc                 Tel: 07785 273 111 
 
 Shawn Wu, CFO   Asia Ceramics Holdings   Tel: 86-10-68531389 
                  plc 
 James Joyce     WH Ireland Limited       Tel: 020 7220 1666

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFVFVSIDIIV

Asia Ceramics (LSE:ACHP)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024