On 8 December 2017, Tymlez BV, a subsidiary of Tymlez Group Ltd A.C.N. 622.817.421 announced that it had entered into a partnership agreement with Chainledger Systems AG, whereby Tymlez agreed to license its Blockchain technology to Chainledger Systems AG.
Tymlez now seeks to announce that effective from 9 July 2018, Tymlez BV has terminated the partnership agreement with Chainledger Systems AG because the parties have been unable to mutually agree to an extension of the payment terms. Consequently, the license granted by Tymlez has been revoked and the parties will reassess whether any opportunities for cooperation are available at a later stage.
The Board is now turning its focus on to a number of alternative opportunities. Further announcements regarding the Company’s outlook will be made as soon as practicable.