Simavita Limited has announced that it has entered into its first major marketing agreement to target the sale of adult and infant products, including diapers, incorporating Simavita’s AlertPLUS platform technology.
The following additional information is provided in relation to the agreement. The marketing agreement is with Drylock Technologies NV, a European-based global diaper manufacturer. The agreement is for a 12-month period, subject to customary early termination rights.
During this period of time, the parties say they will endeavour to seek out and identify tender opportunities with large mass market customers and to work exclusively with one another only in relation to agreed tender opportunities.
Simavita Chairman, Michael Spooner, says: “This marketing agreement is important to the company as it is an outstanding validation of our PIVOT strategy and an excellent commercial start to the tremendous opportunity that we believe has now been established.”
According to Simavita, there are no material conditions to be satisfied prior to the commencement of the marketing agreement and no sales contracts have been entered into at this stage. Simavita wishes to make clear that it has not, nor will it pay fees to diaper manufacturers or any other party in relation to this agreement.
