OTHERS OPTION AGREEMENT BETWEEN SWS CAPITAL BERHAD ("SWS" OR "THE COMPANY") AND NEXUS UNION SDN. BHD. ("NEXUS") IN RELATION TO NEXUS GRANTING AN OPTION TO SWS TO PURCHASE 3,442,500 ORDINARY SHARES IN MATA AEROTECH SDN BHD ("MATA AEROTECH" OR "JVC") HELD BY NEXUS FOR A TOTAL PURCHASE CONSIDERATION OF RM4,725,000 REPRESENTING 51% OF THE PAID-UP CAPITAL OF MATA AEROTECH
| SWS CAPITAL BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | OPTION AGREEMENT BETWEEN SWS CAPITAL BERHAD ("SWS" OR "THE COMPANY") AND NEXUS UNION SDN. BHD. ("NEXUS") IN RELATION TO NEXUS GRANTING AN OPTION TO SWS TO PURCHASE 3,442,500 ORDINARY SHARES IN MATA AEROTECH SDN BHD ("MATA AEROTECH" OR "JVC") HELD BY NEXUS FOR A TOTAL PURCHASE CONSIDERATION OF RM4,725,000 REPRESENTING 51% OF THE PAID-UP CAPITAL OF MATA AEROTECH |
|
Reference is made to the announcement dated 09 July 2019 and 05 August 2019 in relation to the Option Agreement (“Announcement”). Unless otherwise stated, the definitions used throughout this announcement are the same as those previously defined in the Announcement.
The Board of Directors of SWS wishes to announce that SWS and Nexus have mutually agree to terminate the Option Agreement and irrevocably and unconditionally release and discharge each other from the further performance of, and from all and any liabilities, losses and obligations which SWS and Nexus have, may have had or may have under the Option Agreement and the Option Agreement shall have no further force or effect whatsoever. In this regard, both SWS and Nexus mutually agree to waive any and all other rights, entitlements, claims including refunds, deposits, considerations, payments or costs that it has or may have against the other under or arising from the Option Agreement.
This announcement is dated 14 February 2020.
|
|
Announcement Info
| Company Name | SWS CAPITAL BERHAD |
| Stock Name | SWSCAP |
| Date Announced | 14 Feb 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14022020-00040 |