Static Control Holdings Limited (SCC) is purchasing ten percent of the shares in Jadi via a “subscription agreement”.
The announcement was made by Jadi on the Malaysian Bourse confirming that Jadi had entered into a subscription agreement with SCC. Additionally, the parties have entered into a three year Supply Agreement that commences on the 1 April 2020 whereby SCC, Ninestar Corporation or any of its subsidiary companies will purchase a committed tonnage of chemical toners per annum from Jadi.
According to the announcement the Proposed Agreement marks a synergistic collaboration between Jadi, an established manufacturer of high quality toners and Ninestar Group, one of the global market leaders in the manufacture and distribution of printing and imaging products. The Proposed Subscription will provide Jadi with the funds necessary to support the expansion of its manufacturing facilities as well as an access to a larger market, whilst Ninestar Group will be able to leverage on Jadi’s R&D and manufacturing capabilities of toners.
The Board believes that the entry of SCC as a substantial shareholder of the Company with board representation is a strategic move as it will enable both parties to leverage on each other’s technical knowledge and experience in the printing and imaging sector.
Jadi is principally involved in the development, formulation and manufacturing of toners for laser printers, photocopiers, facsimile machines and multi-function office equipment. Jadi’s strong emphasis on innovation and research and development (“R&D”) makes it one of the leaders in the manufacturing of high quality toners.
SCC is incorporated in Hong Kong and is principally involved in investment holding and indirectly holds 100 percent of the shareholding of Static Control Components, Inc. (“SCC US”). Headquartered in Sanford, North Carolina, United States of America,
SCC US has over 25 years of experience in the printing and imaging industry with an extensive global distribution network. SCC will be the second largest shareholder in Jadi and will have the right to appoint a Director/s to the board.
