Zoono Group Limited (Company) (ASX: ZNO) is pleased to announce that it has appointed Linco Investments Pte Ltd, a facilities management/distribution company, as the Company’s exclusive distributor for Singapore.
Following the coronavirus outbreak (COVID-19), there continues to be exceptional interest in
Zoono’s technology and its efficacy against viruses and bacteria. Zoono’s longevity and killing methodology can prevent cross contamination and assist in minimising the spread of the virus. The results from the German laboratory testing it against the current strain of coronavirus are expected imminently.
Linco Investments Pte Ltd is a Singapore based company with its roots going back to 1988. Linco’s group of companies are involved in importation and distribution and supply to government agencies, private companies and also direct to consumer markets (B2C).
Being well positioned to leverage its distribution channels, Linco Investments looks for strategic partnerships and/or products that it believes are not just game changers in its industry, but that can also create a positive social impact.
The material terms of the new distribution agreement are:
- An initial 5-year term;
- Exclusive in all markets in Singapore;
- Minimum purchase volumes of:
- NZD$1.5m in first 12 months.
- NZD$2.0m in year two; and • NZD$2.6m in year three and thereafter increasing by 10% per annum;
- Full payment is required for all product before it is shipped.
- NZD$400,000 has been paid for its initial orders.
Singapore is an important market for Zoono as it is recognised as the hub of the ASEAN country group and a lot of companies’ head offices are domiciled there. Zoono is very pleased with its choice of distributor for Singapore.
This announcement has been authorised and approved for release to ASX by the Board of Zoono Group Limited.