Brief: PPK Group Partnered With Xefco To Form A New JV Co, Survivon

PPK

22/09/2021 23:47

Sept 23 (Reuters) - PPK Group Ltd  PPK.AX :
    * PARTNERED WITH XEFCO TO FORM A NEW JV CO, SURVIVON LTD
    * PPK AND XEFCO WILL EACH OWN 47.6% OF SURVIVON WITH BALANCE
HELD
BY A SENIOR MANAGER
    * PPK WILL IMMINENTLY CONTRIBUTE A$4.5M IN CASH
    * SURVIVON WILL OPERATE WITH A SEPARATE MANAGEMENT TEAM, LED
BY
MATTHEW BAILEY AS EITHER CEO OR IN ANOTHER SENIOR MANAGERIAL
CAPACITY
    * BOARD WILL INITIALLY HAVE FOUR DIRECTORS, TWO NOMINATED BY
EACH
OF PPK AND XEFCO
    * SURVIVON WILL COMMENCE PRODUCTION OF ANTI-VIRAL,
ANTIBACTERIAL
FACE MASKS USING XEFCO'S DEVELOPED TECHNOLOGY

Source text for Eikon:  ID:nASXb9Y8rQ 
Further company coverage:  PPK.AX 

 ((Reuters.Briefs@thomsonreuters.com;))