Clarification of information regarding agreements for Nigeria and Ghana announced on 30 December 2020
On 30 December 2020, Brighter announced two distribution agreements regarding Nigeria and Ghana ("Brighter signs 5-year agreement and receives initial order for Actiste® worth EUR 2.3 Million in Nigeria" and "Brighter signs 5-year agreement and receives initial order for Actiste® worth EUR 1.2 Million in Ghana”).
The company's press releases stated that the company will receive pre-payments of EUR 576,000 (Nigeria) and EUR 306,000 (Ghana) in connection with orders and the remaining amounts in connection with shipment.
Below is a clarification of the payment process:
Immediately following market approvals, the distributors will automatically order at least 3,000 (Nigeria) and 1,500 (Ghana) subscriptions and become obligated to pre-pay the first 6 months of the 24-month subscriptions, of which 50% is payable immediately and the remaining amount falling due in connection with shipment. Brighter will also invoice in advance for each 6-month interval for the remainder of the 24-month subscriptions. Subsequent orders throughout the contract term are also payable on the 6-month advance basis.
For Nigeria, this means an initial pre-payment of at least EUR 576,000, of which 50% is paid in connection with order and 50% in connection with shipment, as well as 3 corresponding pre-payments at intervals of 6 months, to arrive at a total of at least EUR 2.3 million.
For Ghana, this means an initial pre-payment of at least EUR 306,000, of which 50% is paid in connection with order and 50% in connection with shipment, as well as 3 corresponding pre-payments at intervals of 6 months, to arrive at a total of at least EUR 1.2 million.
The fulfillment and formal execution of the orders is pending the local regulatory approvals.
For further information, please contact:
Brighter’s Certified Adviser is Eminova Fondkommission AB, +46 (0)8 – 684 211 10, firstname.lastname@example.org, www.eminova.se.
About Brighter AB (publ)
Brighter is a health-tech company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to provide smarter care for chronic conditions. Our daily-care solutions are designed with a vision to facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – aiming to improve quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18:53 CET on January 5, 2021.