MiLOC Group Limited - BUSINESS RESTRUCTURING
Announcement provided by
Crushmetric Group Limited · CUSH13/06/2022 12:06
13 June 2022
MiLOC GROUP LIMITED
("MiLOC", the "Group" or the "Company")
BUSINESS RESTRUCTURING
The Company announces that it plans to restructure the business of the Group. Due to the covid-19 pandemic in
The Company has shifted more resources to the business of CRUSHMETRIC SwitchPen, through online (currently mainly through www.crushmetric.com) and offline platforms. We expect to launch more products of CRUSHMETRIC in the foreseeable future including but not limited to special designed stools, drinks, etc. We expect the revenue in 2022 to grow and come out of the year stronger both organisationally and financially.
As announced on 2 March 2022, the Company's wholly-owned subsidiary was granted the exclusive distribution rights by CRUSHMETRIC Limited.
In due course, the Company may propose a resolution to shareholders, together with an explanatory circular, proposing the change of the Company's business to include the sales and distribution agreement, as the Company moves away from Traditional Chinese Medicine ("TCM").
The directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:-
MiLOC ONG Ban Poh Michael - Chief Executive Officer Lilian Lo - Acting Chief Financial Officer
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Tel: +852 2110 4221
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AQSE Growth Market Corporate Adviser PETERHOUSE CAPITAL LIMITED Guy Miller Mark Anwyl |
Tel: +44 (0) 20 7469 0930 |
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