Clarification of Payment Arrangements for Licensing Agreement

13th December 2023

13th December 2023

Further to the updates of 2 and 21 November, the Company would like to remind shareholders of the following:

  • The agent will contact shareholders (or their investment platforms) by email not by post.
  • Shareholders will be required to complete the relevant paperwork including Internal Revenue Service form(s) and are reminded to seek appropriate tax and legal advice.
  • The company would also like to reiterate to shareholders that contact from agents/investment platforms shall commence week starting 18th December in accordance with the 4/5 weeks’ timeframe stated in previous updates
  • The Company understands the licensing agreement to be an income event not a capital event for tax purposes.
  • Payment by the agent is made in US$ promptly once correct and complete documentation is received and verified via its portal.

This update may not be considered as tax or legal advice.

The Company remains under strict non-disclosure agreements. All further updates will be published on