Esthetics International Group Berhad (“EIG”) is pleased to announce the signing of a Distribution Agreement (the “Agreement”) on 15 August 2022 between EIG Dermal Wellness (M) Sdn Bhd (“EIGDW”), a wholly-owned subsidiary of EIG, and iiaa Limited (“iiaa”).
The Agreement grants EIGDW the exclusive right to sell and distribute Advanced Nutrition Programme (ANP) supplement products in Malaysia, Brunei, Singapore, Thailand and Indonesia (the “Territory”), effective from 1 October 2022 and shall continue for an ongoing term until terminated by either party with six months’ written notice.
The Agreement will enable EIG to further leverage and expand its distribution of prestige cosmetic products through the professional salon, mediclinic as well as selected retail and ecommerce channels in the Territory.
ANP is a leading premium range of innovative oral skincare supplements from the United Kingdom which is formulated to support healthy skin and wellbeing, with 16 years’ history and distribution across more than 3,500 skin care professionals, salons, clinics, and select, premium retailers in 20 countries globally.
The Directors of EIG, having considered all relevant factors, is of the view that it is in the interest of EIG for EIGDW to enter into the Agreement
The signing of the Agreement will not have any effect on the share capital and substantial shareholdings structure of EIG. With focused and prudent sales and marketing efforts and barring unforeseen circumstances, the Agreement is expected to positively contribute to future profits, earnings per share and net assets of EIG.
None of the Directors of the Company, substantial shareholders and/or persons connected to them has any interest, direct or indirect in the above transaction.
This announcement is dated 16 August 2022.