News: JAT Jatcorp Anticipates Sunnya Sales Will Be Impacted By About A$1 Mln For FY23

April 28 (Reuters) - Jatcorp Ltd (JAT) :

• COMPANY ANTICIPATES THAT SUNNYA' SALES WILL BE IMPACTED BY ABOUT A$1M FOR FY2023
• IMPACT ON SALES IN FY2024 IS DIFFICULT TO QUANTIFY
• IMPACT ON SALES IN FY2024 WILL BE OFFSET BY INCREASED SALES MADE UNDER MOROKA BRAND
• DOES NOT EXPECT IMPACT TO BE MATERIAL TO ITS FY2023 AND FY2024 RESULTS GIVEN LIKELY OFFSET OF INCREASED SALES OF MOROKA PRODUCT
• LOST SALES NOT TAKING INTO ACCOUNT INCREASED SALES MAY AMOUNT TO BETWEEN A$7M AND A$9M IN FY2024
• FURTHER DEVELOPMENT IN LEGAL PROCEEDINGS BETWEEN SUNNYA AND ITS FORMER DIRECTORS
• DEFENDANT CARRIED OUT VARIOUS ACTIONS WHICH CAUSED SIGNIFICANT DAMAGE TO SUNNYA'S ABILITY TO CONTINUE SUPPLY INTO CHINA MARKET
• CO HAS AGREED TO ASSIGN TO SUNNYA ITS "MOROKA" TRADEMARK IN VIEW OF LEGAL PROCEEDINGS
• ACTIONS BY DEFENDANT WILL AFFECT BRAND AS WELL AS RESTRICT SUNNYA'S SALES INTO CHINA