ASX announcement changed to a news release only? - Olay China, page-132

Doesn’t seem all that hard to crank out something with a different focus that the ASX would recognise as properly informing the market of relevant events.

Something like the following:

“OBJ Limited is pleased to announce another example of the transformation of our unique IP into revenue-generating products with news of the release in August of a second P&G product containing OBJ Limited’s proprietary micro-array technology.

After its initial development and limited distribution of the first applicator wand containing the OBJ micro-array for its SKII products in 2014, P&G has released a second such product, the Eye Wand for its Olay brand Pro-X Youth Activ Eye Restoration, into the large China market.

OBJ Limited considers the development and launch of a second device into the world’s largest market by P&G to represent further validation of our unique and valuable OBJ proprietary technology and a demonstration of the value to both parties of our ongoing collaborative partnership. For OBJ Limited in particular, it represents an important step in the journey towards establishing regular revenue inflows, with the wands each designed for use with high-volume and market leading products.

While licensing details are treated in the strictest confidence, the amount of revenue generated for OBJ Limited from its licensing agreement with P&G for use of the proprietary micro-array is related to relevant sale volumes. Given the time and energy devoted by P&G to these product developments, and the 300% improvement in active ingredient absorption through use of the wand, our reasonable expectation is that P&G is likely to increase the volume available for sale over the ensuing period.

The specific financial details of our agreements with all partners (and prospective partners) are matters treated in the strictest confidence, but we will inform the market of overall revenue figures, in due course.

We continue to advance in potential partnership and product development discussions with other partners with respect to our other proprietary technology.”