MEMORANDUM OF UNDERSTANDING MEMORANDUM OF UNDERSTANDING BETWEEN LBS BINA GROUP BERHAD AND ZHUHAI JIUZHOU HOLDINGS GROUP CO., LTD. IN RESPECT OF THE INTENTION TO DISPOSE OF 60% RIGHTS AND INTERESTS IN ZHUHAI INTERNATIONAL CIRCUIT LIMITED
| LBS BINA GROUP BERHAD |
| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | MEMORANDUM OF UNDERSTANDING BETWEEN LBS BINA GROUP BERHAD AND ZHUHAI JIUZHOU HOLDINGS GROUP CO., LTD. IN RESPECT OF THE INTENTION TO DISPOSE OF 60% RIGHTS AND INTERESTS IN ZHUHAI INTERNATIONAL CIRCUIT LIMITED |
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We refer to the announcement dated 4 September 2020 in relation to the MOU with JZ expressing JZ’s intention to acquire LBS’ entire 60% rights and interests in ZIC, a subsidiary of LIL, which in turn is an indirect wholly-owned subsidiary of LBS (“Announcement”). Unless otherwise defined, the definitions set out in the said Announcement shall apply herein.
The Board of Directors of LBS wishes to announce that the MOU has lapsed upon its expiry on 3 March 2021.
The expiration of the MOU would not have any financial impact on LBS and its subsidiaries.
This announcement is dated 4 March 2021. |
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Announcement Info
| Company Name | LBS BINA GROUP BERHAD |
| Stock Name | LBS |
| Date Announced | 04 Mar 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18022021-00045 |