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Kingsmen axes deal with Vision High to bring Nerf action to China
COMMUNICATION design and production group Kingsmen Creatives on Tuesday said it has terminated the agreement entered into between its US unit, Kingsmen Xperience, and Vision High (HK) Limited to open Nerf family entertainment centre attractions in the China market.
"The group wishes to announce that Kingsmen Xperience and Vision High have mutually agreed to terminate the agreement and each party shall release the other party of all the obligations and duties under the agreement," it said.
It added that the termination of the deal is not expected to have any material impact on the group's earnings per share and net tangible assets per share for the current financial year ending Dec 31, 2019.