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Zotefoams PLC - Croydon, England-based cellular material technology producer - Says exclusivity agreement with Nike Inc has been extended to December 31, 2029. Zotefoams develops footwear technology and supplies materials to Nike. Agreement sets out terms and conditions under which Zotefoams exclusively supplies Nike with high-performance foam materials. All conditions besides the agreement’s length remain unchanged. Zotefoams cannot disclose specific details of the contract due to confidentiality agreements. It signed the original exclusivity deal with Nike in December 2017 to develop and supply foam which it says is specially designed for footwear and can be formulated to specific customer needs. Shares at that time were up 15% following the announcement. Current stock price: 350.40 pence, up 2.8% in London on Tuesday 12-month change: up 12% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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