Henry Morgan Limited announced the entry into an agreement between Shinsegae Food Inc. and a wholly owned subsidiary of Bartholomew Roberts Ltd. Shinsegae Food and the Bartholomew Roberts subsidiary have agreed to establish a 50-50 joint venture company in Korea which will aim to develop, operate, market and promote new food products in the Korean and broader Asian markets. Both parties will hold 50% of the shares and have equal representation on the board of directors of the joint venture entity. The joint venture will combine the proven management expertise of Shinsegae Food Inc. in the food and beverage industry, with the financial and investment acumen of the Bartholomew Roberts team. While the agreement is not legally binding and is subject to certain approvals and other conditions precedent being met, the Board of Henry Morgan Limited believes the business relationship between the parties will lead to value for both parties and their shareholders, and potentially other international business opportunities in different industry sectors.