United-Guardian notifies Ashland of non-renewal of Exclusive Distributor Agreement

UNITED GUARDIAN INC

Company gave written notice on Oct 10, 2023 to Ashland that it will not renew the Exclusive Distributor Agreement.
Agreement (dated July 5, 2000, amended May 5, 2010) would have auto-renewed Jan 1, 2024 for another 2 years.
No early termination penalties will be incurred by the Company.
Company plans to explore alternative marketing/distribution arrangements; may negotiate new deal with Ashland or a new partner.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UNITED GUARDIAN INC terminated Exclusive Distributor Agreement with Ashland Specialty Ingredients (effective 2023-10-10).

Action: termination
Agreement: supply
Counterparty: Ashland Specialty Ingredients
Effective: 2023-10-10

Exact text from the filing

the Company notified Ashland Specialty Ingredients (“Ashland”), one of its marketing and distribution partners, that it was not renewing its Exclusive Distributor Agreement with Ashland dated July 5, 2000, as amended by the letter agreement dated May 5, 2010 (the “Distribution Agreement”).

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Source: SEC EDGAR

accession 0001171843-23-006269

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