inHealth Medical Services, Inc New Customer ContractCardieX Limited (ASX: CDX) (CardieX, the Company) provides clarification as to its 13 June 2019 request for a trading halt pending an update about a material customer contract.The trading halt was called to allow the Company to expeditiously review a new multi-year customer contract, between a previously announced unidentified global electronics and medical device company (“GEMDC”) and inHealth, to determine its materiality to CardieX at this time.Following this review the Company has determined that the GEMDC customer contract is material to inHealth but is not currently material to CardieX. The basis of this decision is by virtue of CardieX’s current equity position in inHealth (7.7%), which is prior to conversion of the currently subscribed tranche 2 convertible note, that will increase CardieX’s position to 41.03% prior to the tranche 3 option to increase this stake to 50.5%.CardieX will provide additional information as required by the ASX Listing Rules as appropriate. In addition all parties have been advised by GEMDC of the strict continuing confidentiality restraints surrounding this agreement for the purposes of commercial and competitive confidentiality.
CDX Price at posting:
3.5¢ Sentiment: None Disclosure: Held
