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Plexus enters license agreement to increase global reach of wellhead equipment


Published Jul 3, 2015
Plexus Holdings PLC

Plexus Holdings PLC has finalised and entered into a licence agreement ('Licence Agreement') dated 1 July 2015 with Yantai Jereh Oilfield Services Group Co., Ltd ('Jereh'), a Chinese oil services provider listed on the Shenzhen stock exchange with a market capitalisation of US$6.9bn, to facilitate the rental, sale, and manufacture of Plexus' wellhead equipment into the major Chinese, wider Asian, Brazil, Indian and Middle East oil and gas markets.

The Licence Agreement is a transformational milestone for Plexus and is in line with its strategy of significantly increasing the global reach of its best in class POS-GRIP wellhead equipment in markets which offer exponential growth opportunities.

Plexus has also finalised and entered into a share subscription agreement ('Share Subscription Agreement') dated 1 July 2015 with Jereh International (Hong Kong) Co., Ltd ('Jereh HK'), with formal completion to occur on receipt of funds as detailed below from Jereh HK ('the Initial Subscription Completion').

Tags: Plexus Holdings PLC




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