Re Agreement
07 1월 2008 - 4:00PM
UK Regulatory
Embargoed until 0700hrs 7 January 2008
DermaSalve Sciences plc
("DermaSalve" or the "Group")
Exclusive Five Year Agreement
The Directors are pleased to announce that DermaSalve has signed an exclusive
five year agreement with MG Advice, a Paris-based company specialising in the
management of marketing networks, for the supply of a range of DermaSalve
creams in France.
Under the agreement, MG Advice has undertaken to place an initial purchase
order with a minimum value of �3.2 million for the supply of products in 2008.
The agreement also sets out minimum targets for the remaining four years, which
are based on the annual order value increasing by 20 per cent. per annum.
The agreement provides that payments to DermaSalve will be secured by an
irrevocable letter of credit issued by an internationally recognised bank in
Paris. First deliveries will commence later this month.
MG Advice, which also specialises in trade finance, export credit insurance,
pre and post manufacturing finance, has strong business relationships with a
number of international financial institutions.
MG Advice has a strategic partnership with In Extenso for supply chain
management.
Commenting on the agreement, Dr. Mark Randle, CEO of DermaSalve, said:
"Since developing the DermaSalve range of creams, our strategy has been to
establish the product as a premium brand with clear USPs. This significant
contract, which we expect to have a material impact on our profitability, will
bring a step change in critical mass and much more visibility to our creams
business. We look forward to building on this with other contracts in the year
ahead."
Enquiries:
Dermasalve Sciences plc 0191 260 5070
Dr. Mark Randle, CEO www.dermasalve.com
Phil Pattison, Finance Director
Hansard Group +44 (0)20 7245 1100
Adam Reynolds / Brendan Adams
Hanson Westhouse Limited +44 (0)113 246 2610
Tim Feather / Matthew Johnson
Notes
The development of the DermaSalve range of skin creams was led by Dr. Mark
Randle. The creams are free of all common skin sensitisers and petrochemicals.
As a GP Dr. Randle had become aware that the skincare products on the market
used known skin sensitisers as part of their preservative, surfactant or
emulsifying systems. With no petrochemicals, alcohol, fragrances, parabens,
lanolin or other common skin sensitisers, DermaSalve creams represent a new
approach to the care of dry and sensitive skin.
END
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