Join our daily newsletter At The Bell to receive exclusive market insights
- Skin Elements (SKN) has entered a binding distribution agreement with Prudential Consultants to distribute its Invisi Shield Organics hand sanitiser in Australia
- Under this three year agreement, Skin Elements will exclusively supply its Invisi Shield Organics Product in New South Wales and Tasmania
- Prudential has agreed to a minimum sales commitment of 40,500 litres, or $2.4 million worth, of Invisi Shield over the three year period
- Once the three years are up, the agreement may be extended by another five years, subject to the agreement of both parties
- Invisi Shield will be marketed and sold to the education sector, the transport sector, and places of worship, and subject to TGA approval, it will also be marketed and sold to the health care sector and aged care centres
- Skin Elements is steady on the market and shares have been trading for eight cents each since May 11
Skin Elements (SKN) has entered a binding distribution agreement with Prudential Consultants to distribute its Invisi Shield Organics hand sanitiser in Australia.
After searching for an Australian organisation that provides high-quality products, Prudential contacted Skin Elements in April for a potential partnership.
Under this three year agreement, Skin Elements will exclusively supply its Invisi Shield Organics Product in New South Wales and Tasmania.
Additionally, this product will be distributed outside of these areas on a non-exclusive basis.
Prudential has agreed to a minimum sales commitment of 40,500 litres, or $2.4 million worth, of Invisi Shield over the three year period.
Subject to the consent of both companies, this minimum quantity may be increased to meet demand.
This will be broken down to 12,000 litres in year one, 13,500 litres in year two, and 15,000 litres in year three.
Once the three years are up, the agreement may be extended by another five years, subject to the agreement of both parties.
Invisi Shield will be marketed and sold to the education sector, the transport sector, and places of worship.
Subject to TGA approval, Invisi Shield will also be marketed and sold to the health care sector and aged care centres.
Finally, Prudential is responsible for all costs, expenses and charges incurred.
Skin Elements can terminate the agreement with no notice if Prudential breaches any section of the agreement that cannot be solved.
The company can also terminate the agreement if Prudential breaches any portion of the agreement that can be fixed but does not fix it within 30 days.
Skin Elements is steady on the market and shares have been trading for eight cents each since May 11.
