1 December 2015
Early Equity PLC
(“Early Equity” or “the Company”)
Investment in Yicom Infinity Sdn. Bhd.
Early Equity Plc (ISDX: EEQP), a proactive investment company focused on early-staged companies which generate recurring income streams, is pleased to announce that it has acquired 128,571 units of fully paid up share capital of Yicom Global Sdn. Bhd. (“Yicom”), which represents 32.14% of its issued capital. The Investment has been financed by the issue of 100,000,000 new shares of Early Equity, which represents 15.83% of its issued share capital.
Yicom is the sole importer and patent holder of a series of healthcare products from various countries and in particular China. Yicom has a Sole Distributorship Agreement with Early Infinity Holdings Sdn. Bhd. a direct sales company holding licences to operate a multi-level marketing business in Malaysia.
Yicom started trading in February of this year and up to the end of this month (November 2015) has achieved a turnover of Ringgit Malaysia (RM) 3,004,715 (approximately £462,264) with a net profit of Ringgit Malaysia 1,166,793 (approximately £179,506). The rate of turnover has increased each month as new distributors have been recruited. These figures have been prepared from management accounts and are not audited. Exchange rate is based on RM6.5:£1.
Early Infinity Holding Sdn Bhd currently have 700 Agents selling their products in Asia and the Directors of Yicom believe there is scope to increase this number to 10,000 over the next three years as they expand their business in Malaysian market and expand into China and Thailand.
The 100,000,000 new ordinary shares will be admitted to trading on ISDX Growth Market today, 1 December 2015.
The following parties have an interest of more than 3% in the shares of the Company:
||Number of Ordinary Shares
|CHIN CHIN SING
|DIEH SIEW HUAT
|TEE SOOT MOI
|LIM HUI JIE
|CHUA SIEW LIAN (EDWIN CHUA CEO)
YICOM INFINITY SDN B
Following the admission of the Investment shares, the Company will have 596,887,001 ordinary shares of 0.1 pence in issue. This figure may be used by shareholders 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.
Early Equity Chief Executive Edwin Chua Siew Lian said “The Directors have been looking at how Early Equity shareholders can benefit from the Chinese Government initiative “One Belt One Road Initiative” to expand the export of Yicom’s products. We are delighted to make this investment in Yicom which is an exciting Company with strong prospects in both China and Malaysia. We are looking forward to working with Yicom to continue to develop its sales. “
Yicom Director Dieh Siew Huat said” This investment by Early Equity is a significant step forward for Yicom and we will continue to work to expand our product range and number of Agents who distribute our products.”
The directors of Early Equity Plc accept responsibility for this announcement.
For further information please contact:
Tel: +44 7830 182501
ISDX 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