TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS NI HSIN RESOURCES BERHAD ("NI HSIN" OR "THE COMPANY") -TERMINATION OF INVESTMENT AGREEMENT BETWEEN SEAMOG GROUP SDN. BHD. AND NI HSIN
| NI HSIN RESOURCES BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | NI HSIN RESOURCES BERHAD ("NI HSIN" OR "THE COMPANY")
-TERMINATION OF INVESTMENT AGREEMENT BETWEEN SEAMOG GROUP SDN. BHD. AND NI HSIN |
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Reference is made to the announcement dated 13 February 2020 in relation to the proposed subscription of 250,000 shares in Seamog Group Sdn. Bhd.. The terms herein shall bear the same meaning as defined in the said announcement. In view of the adverse global economic condition and the outbreak of the Covid-19 pandemic, it is untenable for Seamog and Ni Hsin to proceed with their obligations as stipulated in the Agreement. The Board of Directors of Ni Hsin wishes to announce that Seamog and Ni Hsin had vide a letter dated 15 July 2020 mutually terminate the Agreement. The termination of the Agreement would not have any financial impact on the Company and its subsidiaries. This announcement is dated 15 July 2020. |
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Announcement Info
| Company Name | NI HSIN RESOURCES BERHAD |
| Stock Name | NIHSIN |
| Date Announced | 15 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15072020-00080 |