The Company has informed that, the Board of Directors of the Company has agreed to enter into and execute a Memorandum of Understanding (MoU) for Strategic Partnership with Prosperity Textile (H.K.) Ltd., the largest denim manufacturer in the north of Guangdong province, China, currently extended their business network in Bangladesh, having its main office at 24F, Block A, Poly Universe Plaza, Tianhe Nord Road 626, Guangzhou, China. The terms of this MoU, inter alia, include sourcing of fabrics from Envoy Textiles Ltd. and sharing of technical know-how for product development. It was also decided that, the Memorandum of Understanding (MoU) for Strategic Partnership to be executed by the both parties on the 10th Day of December 2014 at the Corporate Office of the Company.