OTHERS BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY") TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN BIOALPHA INTERNATIONAL SDN BHD AND ZUELLIG PHARMA SDN BHD ("ZP")
| BIOALPHA HOLDINGS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY")
TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN BIOALPHA INTERNATIONAL SDN BHD AND ZUELLIG PHARMA SDN BHD ("ZP") |
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Reference is made to the Company’s announcement made on 25 January 2021 pertaining to the MOU entered between BISB and ZP. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 25 January 2021.
The Board of Directors of Bioalpha wishes to announce that BISB, a wholly-owned subsidiary of the Bioalpha and ZP agreed to terminate the MOU with immediate effect due to BISB would not proceed with the distribution services with ZP following the termination of the Procurement and Distribution Agreement entered into between BISB and Shanghai Bukun Trading Co., Ltd (“SBTC”), a wholly-owned subsidiary of Sinopharm (Hainan) Health Industry Co., Ltd. which was announced on 3 September 2021.
No definitive agreement has been entered into by BISB with ZP pursuant to the MOU.
The termination of the MOU does not have any financial impact to BISB and the Company.
This announcement is dated 13 September 2021. |
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Announcement Info
| Company Name | BIOALPHA HOLDINGS BERHAD |
| Stock Name | BIOHLDG |
| Date Announced | 13 Sep 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-13092021-00091 |