Charter Pacific Corporation Limited (“CPC”) today announced it has entered into a Memorandum of Understanding (MoU) with Vora IP RSC Ltd (“Vora IP”), an entity that has the sovereign backing of Abu Dhabi. The MoU relates to Vora IP’s proposed acquisition and commercialisation of some of CPC’s patent portfolio subject to completion of due diligence satisfactory to Vora IP.
Following completion of Vora IP’s due diligence, CPC expects to complete the transaction upon the terms agreed in the MoU enabling Vora IP to acquire the two CPC subsidiary companies owning the relevant patent portfolio families, namely:
- CPC Patent Technologies Pty Ltd (Registered Owner of the ‘Remote Entry System’ – Biometric Patents); and,
- CPC Patents Payment Platforms Pty Ltd (Registered Owner of the ‘A Transmitter for Transmitting A Secure Access Signal’ – Tap & Pay Patents).
CPC’s patent portfolio underpins two of the most transformative technologies of the modern digital economy: biometric (including fingerprint, facial & retinal) recognition and contactless (tap-and-pay) payments.
The patents cover core biometric and NFC authentication methods used in mobile devices.
On behalf of CPC’s Directors and Management Team, we view the strong interest from Abu Dhabi in our patent portfolio through Vora IP as a pivotal opportunity to strengthen the value of our business for our shareholders. Vora IP is a globally influential, sovereign-backed institution, whose team has proven commercialisation capabilities at scale. It is well positioned to unlock the economic potential of CPC’s patent portfolio, enhancing our ongoing efforts in Australia, the United States and in Europe to secure long-term value in our transformative intellectual property assets.
CPC looks forward to completion of this transaction and to the benefits of a long-term relationship with Vora IP.
Further updates, including the transaction terms of agreement, will be provided to CPC shareholders in due course.
Kevin J Dart
Executive Chairman
Charter Pacific Corporation Limited
For media enquiries or additional information, please contact:
Stuart Haslam
Communications Advisor
stuart@stuarthaslam.com
- Further information about CPC is available at: https://www.charpac.com.au/
Media Enquiries for Vora IP
voraip@secnewgate.co.uk
- Read Vora IP’s announcement at: https://www.voraip.com/news