ECS Botanics Distribution Agreement for ECS Botanics Hemp Oil
ECS Botanics Holdings Ltd (ASX: ECS) stock was up by more than 40% after announcing a distribution agreement with Just Foods Australia. Under the terms of the agreement, the company’s ECS Botanics 250ml Hemp Oil product will now be made available in 850 Woolworth stores across Australia.
The three-year distribution agreement marks an important milestone as part Of ECS Botanics commercial strategy. JFA will assume the responsibility of sales, marketing and sales of the ECS Botanics brands in all the Woolworth retail channels. The distributor will also hold sufficient stock at all times in addition to providing yearly sales reports as well as distribution status of the product.
According to ECS Botanics managing director Alex Keach, the distribution agreement paves the way for the implementation of an aggressive retail sales strategy to drive sales revenue growth and distribution. The executive expects the agreement to solidify a long term and beneficial relationship.
Konekt Limited-Advanced Personnel Management International Takeover Update
Konekt Limited (ASX: KKT) stock rallied by more than 20% on the company receiving an updated offer as part of a proposed takeover by Advanced Personnel Management International Pty. The cash offer to Konekt shareholders has since increased to $0.64 cents, per share up from an initial offer of $0.49.
The takeover bid represents a 60% plus premium to Konekt last trading price before the scheme announcement was made. Under the terms of the agreement, Konekt directors are to pay a special dividend of up to $0.05 per Konekt share held, before the implementation of the Scheme takeover.
Konekt chair Douglas Flynn has approved the scheme agreement reiterating the 69% premium presents an opportunity for shareholders to generate significant value. In addition, the agreement underscores the strength of Konekt brand as well as the dedication of employees and the quality of services offered.
The scheme subject is however subject to a number of conditions including getting consent for change of control from government contracts as well as regulatory approvals.
Security Matters Limited Quarterly Update
Security Matters Ltd (ASX: SMX) stock was up by more than 10% after announcing it continues to build strong relationships with strategic partners as part of its quarterly update. In addition to the partnership, the company also continues to deliver strong progress across various operations. Consequently, the company has identified several growth opportunities that it plans to pursue around the sectors of plastic polymers, rare earth metals, minerals and wood.
For the Three months ended September 30, Security Matters Limited unveiled a blockchain product in partnership with R3 and Quantum Crowd. Likewise, the company continued to promote and commercialize its unique patented technology that enables manufacturers and producers to store data within raw materials.
Going into the year-end, the company remains focused on leveraging relationships developed for the better part of 2018 to secure addition collaboration agreements. The company is also seeking to develop proof of concept projects in a bid to deliver on its business model and technology.