TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS BRAHIM’S HOLDINGS BERHAD (“THE COMPANY”) – PROPOSED DISPOSAL OF THE COMPANY’S WHOLLY-OWNED SUBSIDIARY, TAMADAM INDUSTRIES SDN. BHD. AND ITS BUSINESS TO NICHE PROPERTY MANAGEMENT SDN. BHD. (“PROPOSED DISPOSAL”)

We refer to the Company’s announcement dated 13 February 2012 and the Reply of Query Announcement dated 17 February 2012, in relation to the Proposed Disposal.

 

The Board of Directors of the Company wishes to announce that the Company had today entered into the Rescission Agreement and Mutual Release with Niche Property Management Sdn. Bhd. (Company No. 828354-P) (“Niche”) to rescind and revoke the following inter-conditional agreements :

a) Business Transfer Agreement dated 10 February 2012 (“BTA”),

b) Share Sale Agreement dated 10 February 2012 (“SSA”); and

c) Supplementary Redeemable Term Debt Agreement dated 13 February 2012 (“SRTDA”).

 

Pursuant to the Rescission Agreement and Mutual Release, the Company and the Niche have mutually agreed to reverse, rescind and unwind the contractual arrangements and all transactions including asset and share transfer comprised in BTA, SSA and the SRTDA to serve their respective mutual commercial interests better and subsequently to restore each party to the original status quo position it was in before the BTA, SSA and the SRTDA were entered into by it.

 

This announcement is dated 26 February 2013.