NAMI CORP. (OTCMKTS:NINK) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Entry into Corporate Services Agreement
On 1 July, the Company entered into a corporate services agreement (the “Corporate Services Agreement”) with Nami Development Capital Sdn. Bhd. (“NDC”). to the terms of the Corporate Services Agreement, NDC will provide general corporate and administrative services, including, but not limited to, accounting and payroll services and human resources support, to the Company and SBS. The Company and SBS will each pay a monthly retainer and reimburse the out-of-pocket expenses reasonably incurred by NDC in connection with the provision of these services as compensation to NDC. Additionally, the Company and SBS will each reimburse NDC for any service taxes, as well as any other taxes, incurred in connection with NDC’s carrying out this Corporate Services Agreement. Either party may terminate the Corporate Services Agreement upon 90 days’ written notice, provided that the non-terminating party reserves the right to negotiate for a longer period in order to effect an orderly transition. As discussed in Item 8.01 below, the Company and NDC were not related parties as of the effective date of the Corporate Services Agreement.
The above summary of the Corporate Services Agreement is subject to, and is qualified in its entirety by, reference to the Corporate Services Agreement, which is included as Exhibit 10.1 to this Current Report on Form 8-K and which is incorporated by reference into this Item 1.01 in its entirety. Readers should review the Corporate Services Agreement for a complete understanding of the terms and conditions.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 26, 2019, Mr. Soh Ooi Tech notified the Board of Directors of the Company (the “Board”) of his decision to resign, effective immediately, from his position as an Independent Non-Executive Director of the Board. Mr. Soh’s resignation was to pursue other opportunities and did not result from any disagreements with management or the Board.
The resignation letter of Mr. Soh is filed as Exhibit 17.1 to this Current Report on Form 8-K.
Item 8.01 Other Events.
Prior to Q2 2019, the Company and NDC were determined to be related parties by virtue of their relationships with Mr. Lew Sze How and Mr. MW Jason Chan. Messrs. Lew and Chan were directors and shareholders of NDC while serving as officers of the Company. However, on May 30, 2019, Messrs. Lew and Chan resigned as directors of NDC; and on June 14, 2019, they ceased to be shareholders of NDC. Messrs. Lew and Chan remain officers of the Company. Accordingly, the Company and NDC are no longer related parties.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are furnished with this report:
NAMI Corp. Exhibit
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To view the full exhibit click here
About NAMI CORP. (OTCMKTS:NINK)
Nami Corp., formerly Pack Fuerte, Inc.. is a shell company. The Company is a development-stage company, which intends to develop a built in safe with a combination lock that can store personal and or valuable items, inside of backpacks, carry-on luggage and suitcases. The Company has no products. As of November 30, 2015, the Company had no operations. As of November 30, 2015, the Company did not generate any revenue.
