14 August 2017
Early Equity PLC
(“Early Equity” or “the Company”)
Investment in Early Infinity Holding Sdn Bhd and Equity Subscription
Further to the Memorandum of Understanding (MOU) with Early Infinity Holding Sdn Bhd (EI Holding) that we announced on 31 May 2017, 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 acquired 60,000 units of fully paid up share capital of EI Holding, which represents 4% of its issued capital. The Investment has been financed by the issue of 10,000,000 new shares of Early Equity, which represents 1.55% of its issued share capital (following inclusion of the subscription shares detailed below).
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. Both parties acknowledge that following this initial investment further negotiations continue and the Company expects to make further announcements in the near future. The MOU will expire after 12 months but will automatically renew if both parties are in agreement.
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 now have a direct interest in EI Holding that will give the Company a closer working relationship with the sales element of the business and we hope to develop this relationship further.”
Early Equity is also pleased to announce that the Company has raised £30,000 by way of a subscription for 5,000,000 new ordinary shares of 0.1p at a price of 0.6p per share (the “Subscription”). The new funds raised will be used for additional working capital. Following the issue of the shares above, Early Equity has a total of 646,887,001 ordinary shares of 0.1p in issue carrying voting rights. As a result, the Company is aware of the following interests in the share capital of the Company:
Shareholders may use the above figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Early Equity under the FCA's Disclosure and Transparency Rules.
The 5,000,000 new ordinary shares will be admitted to trading on NEX Exchange Growth Market today, 14 August 2017.
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 – Corporate Brokering
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA