Australia's RLF AgTech gains on Philippine distribution deal

RLF AgTech

13/03/2023 01:33

** Shares of RLF AgTech Ltd  RLF.AX  rise as much as 12.8%
to A$0.220, set for best day since March 3, if gains hold 
    ** Tech-based plant nutrition co says it executed exclusive
distribution agreement with Philippines' Taipan Brand Farms Inc
(TBFI), unit of Jardine Distribution Inc.
    ** Co says agreement allows TBFI to distribute co's crop
nutrition products throughout Philippines
    ** Adds, deal outlines an initial sales and purchase target
of A$8.78 mln ($5.81 mln) over next five years with an option to
extend by TBFI
    ** RLF at its highest since March 3
    ** Stock is up ~26% this year as of last close
 


($1 = 1.5106 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))