Brief: Roolife Group Signs Binding Term Sheet For China Sales

Roolife

29/06/2023 04:09

June 29 (Reuters) - Roolife Group Ltd  RLG.AX :
    * SIGNS BINDING TERM SHEET FOR CHINA SALES
    * EXECUTED BINDING TERM SHEET WITH CROSS BORDER E-COMMERCE
COMPANY
AULIFE INTERNATIONAL
    * AGREEMENT IS IMMEDIATELY REVENUE-GENERATIVE, WITH FIRST
SALES TO
BE REPORTED IN JULY 2023
    * TWO PARTIES WILL INCORPORATE NEW ENTITY THAT WILL BE
51%-OWNED
BY RLG AND 49%-OWNED BY AULIFE
    * ADDITIONAL PROFITABILITY CONTRIBUTION WITH A REDUCED COST
BASE
EXPECTED TO CONTRIBUTE TOWARDS COMPANY PROFITABILITY IN FY24
    * TWO PARTIES WILL INCORPORATE  NEW ENTITY WITH PROFIT
SHARING OF
80% TO RLG AND 20% TO AU LIFE (NET PROFIT BASIS)

Source text for Eikon:  ID:nASX8vNSg0 
Further company coverage:  RLG.AX 

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