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DJ Early Equity Plc Investment in Mei Home Sdn. Bhd

 
TIDMEEQP 
 
22 February 2019 
 
                               Early Equity PLC 
 
                       ("Early Equity" or "the Company") 
 
                        Investment in Mei Home Sdn. Bhd 
 
Early Equity Plc (NEX: EEQP), is a proactive investment company focused on 
making investments in early-staged companies which exhibits the potential to 
generate recurring income streams. The Company is pleased to announce that it 
has acquired 60 units of fully paid up share capital of MEI Home Sdn. Bhd. 
("MEI Home"), representing 60% of its issued share capital. The total 
consideration for this investment is One Million Five Hundred Thousand Ringgit 
Malaysia (RM1,500,000), which is approximately GBP281,955. 
 
MEI Home is an e-commerce platform involved in online and offline businesses of 
all kind of household, health, beauty, food and beverages products. Strategic 
marketing and advertising through various channels are implemented to large 
target potential customers locally and within South East Asia region. 
 
MEI Home started trading in July 2017 and has achieved a turnover of Ringgit 
Malaysia (RM) 1,954,318 (approximately GBP367,353) with a net profit before tax 
of Ringgit Malaysia 509,475 (approximately GBP95,766) in audited results for its 
year ending 30th June 2018. 
 
MEI Home is wholly owned by Michael Dieh Siew Huat ("Michael Dieh" or the 
"Seller"), he is also a shareholder of Early Equity, holding approximately 
6,12% of the share capital of the Company. The Seller will continue to work 
with the business and has provided certain undertakings on revenue for the next 
two years. The Seller has committed to provide Early Equity a profit guarantee 
that MEI Home will generate RM500,000-00 per annum net profit before tax over 
the next two financial years. If it is not the case, the Seller will be liable 
for the difference. 
 
Early Equity Chief Executive Edwin Chua Siew Lian said "This acquisition 
continues to build on the Company's exposure to online sales of consumer goods 
into South East Asia. The Directors believe that the Sales and Profit in this 
year is a strong indication of success for MEI Home". 
 
The directors of Early Equity Plc accept responsibility for this announcement. 
 
For further information please contact: 
 
Greg Collier 
 
Tel: +44 7830 182501 
 
NEX CORPORATE ADVISER: 
 
Alexander David Securities Limited 
 
David Scott - Corporate Finance 
 
James Dewhurst - Corporate Broking 
 
Telephone: +44 (0) 20 7448 9820 
 
http://www.ad-securities.com 
 
49 Queen Victoria Street, London EC4N 4SA 
 
 
 
END 
 

(END) Dow Jones Newswires

February 22, 2019 05:47 ET (10:47 GMT)