UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On October 10, 2023, Jerash Holdings (US), Inc., a Delaware corporation (the “Company”), through its wholly-owned subsidiary Treasure Success International Limited, a Hong Kong company (“Treasure Success”), entered into a Shareholders’ Agreement (the “Agreement”) with Newtech Textile (HK) Limited, a Hong Kong company (“Newtech,” and together with Treasure Success, the “Parties”). The Agreement specified the terms and conditions according to which the Parties will exercise their rights in relation to a to be formed joint venture company in Hong Kong, Jerash Newtech (Hong Kong) Holdings Limited (“Jerash Newtech”), of which Treasure Success will hold 51% of the equity interests and Newtech will hold 49%. The Parties agreed that Jerash Newtech will be run by a team of appointed management staff and have a board of directors, each as specified in the Agreement, and will carry out the business of supplying fiber and fabric printed with Cooltrans technology and any other businesses in the future as the Parties shall agree from time to time. The Agreement contains customary covenants of the Parties, other obligations and rights of the Parties, and termination provisions.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety be reference to the full text of the Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference herein.
Item 8.01 Other Events.
On October 12, 2023, the Company issued a press release to announce the entry into the Agreement. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit
Number |
Exhibit | |
| 10.1 | The Agreement dated October 10, 2023 by and between Treasure Success and Newtech | |
| 99.1 | Press Release dated October 12, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JERASH HOLDINGS (US), INC. | ||
| October 12, 2023 | By: | /s/ Choi Lin Hung |
| Choi Lin Hung | ||
|
Chairman of the Board of Directors, Chief Executive Officer, President, and Treasurer | ||
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