Gelonghui, January 15, 丨 United Asia Group (00458.HK) announced that on January 15, 2024, the buyer Huashun Garment Factory Co., Ltd. (an indirect wholly-owned subsidiary of the company) entered into a share option agreement with the seller (Lorenzo OSTI and Agata OSTI), POLATO and the target company. Based on this, the seller agreed to grant the buyer a share option at the cost of the grant price, and the buyer may exercise the share option at its sole discretion to purchase the share option at the purchase price. If the share option is exercised by the buyer, the bid price already paid will be used as payment for the component purchase price. The share option shares will be equivalent to 45% of the issued share capital of the target company MO IP Srl.
By entering into a share option agreement, the Group will have the opportunity to invest in the MASSIMO OSTI brand.
The target company owns the MASSIMOOSTI brand, which covers several intellectual property rights, including (but not limited to) trademarks such as “MASSIMO OSTI” and “MASSIMO OSTI ARCHIVE”. At the same time as entering into the share option agreement, the target company also entered into an operating rights agreement with Tristate International SA, an indirect 95% subsidiary of the company. According to this, Tristate International SA has been granted operating rights to use (including) certain trademarks related to the MASSIMOOSTI brand to manufacture, sell, promote, and/or distribute clothing, accessories and footwear products under the MASSIMOOSTI brand.
By entering into share options and operating rights agreements, the Group has obtained the exclusive right to use the MASSISMOOSTI brand to produce and distribute MASSIMOSTI brand products during the term of the operating rights agreement. By operating the brand over the next few years, the Group will be able to explore the brand's potential, evaluate the brand's performance and prospects, and ultimately decide whether to exercise share options to become a stakeholder in the target company that owns the MASSIMOOSTI brand.