MTRONIC

0.015

(%)

OTHERS METRONIC GLOBAL BERHAD ("METRONIC" OR "THE COMPANY") - TERMINATION OF MEMORANDUM OF AGREEMENT ("MOA") BETWEEN MEDIGEN VACCINE BIOLOGICS CORPORATION ("MVC") AND METRONIC GLOBAL BERHAD

METRONIC GLOBAL BERHAD

Type Announcement
Subject OTHERS
Description
METRONIC GLOBAL BERHAD ("METRONIC" OR "THE COMPANY")
-	TERMINATION OF MEMORANDUM OF AGREEMENT ("MOA") BETWEEN MEDIGEN VACCINE BIOLOGICS CORPORATION ("MVC") AND METRONIC GLOBAL BERHAD

Reference is made to the Company’s announcements dated 5 January 2021 and 6 January 2021 pertaining to the termination of MOA entered between the Company and MVC to obtain exclusive distribution rights for MVC’s COVID-19 Vaccine.

 

The Board of Directors of Metronic wishes to further clarify that the deposit of US$1.5 million was not paid to MVC within the agreed timeframe, as both the parties were of the opinion that it is not viable to proceed with the proposed distribution agreement based on the announcement made by Ministry of Health of Malaysia on 17 December 2020, that the government will purchase the COVID-19 vaccines directly from the suppliers.

 

This announcement is dated 7 January 2021.






Announcement Info

Company Name METRONIC GLOBAL BERHAD
Stock Name MTRONIC
Date Announced 07 Jan 2021
Category General Announcement for PLC
Reference Number GA1-07012021-00065