Unless otherwise stated, definitions used in this announcement shall carry the same meanings as those defined in the Company’s announcement dated 20 December 2019 in relation to the same subject matter.
Reference is made to the Company’s announcement on 20 December 2019 in relation to the HOA with MRI. The Company wishes to announce that the Company and MRI have, via an exchange of letters the acknowledgement of which was received on 15 September 2020 (“Letter”), mutually agreed to terminate the HOA after taking into consideration the current uncertainties surrounding the business of Brahims and its subsidiaries as well as the global economy and financial market.
Further thereto, the Company has refunded the Deposit received from MRI free from any interest accrued therein, if any. The Parties’ obligations pursuant to the HOA shall thereafter cease to have any effect and the Parties shall have no further claims against the other.
The said Letter will be made available for inspection at the registered office of Brahims at 10th Floor, Menara Hap Seng, No. 1 & 3, Jalan P. Ramlee, 50250 Kuala Lumpur during normal business hours from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 15 September 2020