31 May 2017
Early Equity PLC
(“Early Equity” or “the Company”)
Memorandum of Understanding with Early Infinity Holding Sdn Bhd
Suspension of shares
Early Equity Plc (NEX: EEQP), a proactive investment company focused on early-staged companies which generate recurring income streams, is pleased to announce that it has signed a memorandum of understanding (MOU) with Early Infinity Holding Sdn Bhd (EI Holding). EI Holding is a direct sales company holding a license to operate a multi-level marketing business in Malaysia. EI Holding has a sole distributorship agreement with Yicom Infinity Sdn Bhd (Yicom). Early Equity currently holds a stake of 32.14% in Yicom. Yicom is the sole importer and patent holder of a series of healthcare products from various countries and in particular China.
The objective of the MOU is to consider Early Equity acquiring up to 30% of the share capital of EI Holding by the issue of further shares. The MOU will expire after 12 months but will automatically renew if both parties are in agreement.
As the signing of the MOU is in the public domain and the impact it could have on the shares of Early Equity is not clear to investors the Company has requested that the shares of Early Equity be suspended pending announcement of further details of the transaction.
Early Equity Chief Executive Edwin Chua Siew Lian said “EI Holding have continued to expand their operational business, contributing to the growth of Yicom. We are delighted to explore this opportunity to have a direct interest in EI Holding that will give the Company a closer working relationship with the sales element of the business.
A further announcement of the terms of the transaction will be in due course.”
The directors of Early Equity Plc accept responsibility for this announcement.
For further information please contact:
Tel: +44 7830 182501
NEX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott –Corporate Finance
James Dewhurst – Institutional Sales
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA