MEMORANDUM OF UNDERSTANDING M N C WIRELESS BERHAD ("MNC" OR "THE COMPANY") - TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED BETWEEN SETARA TECH SDN. BHD. (FORMERLY KNOWN AS HARIMAU STUDIO SDN. BHD.) ("SETARA TECH"), A WHOLLY-OWNED SUBSIDIARY OF MNC AND VISION WORKS (M) SDN. BHD. ("VISION WORKS")
| M N C WIRELESS BERHAD |
| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | M N C WIRELESS BERHAD ("MNC" OR "THE COMPANY")
- TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") ENTERED BETWEEN SETARA TECH SDN. BHD. (FORMERLY KNOWN AS HARIMAU STUDIO SDN. BHD.) ("SETARA TECH"), A WHOLLY-OWNED SUBSIDIARY OF MNC AND VISION WORKS (M) SDN. BHD. ("VISION WORKS") |
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Reference is made to the Company’s announcement dated 29 September 2021 pertaining to the MOU, the Board of Directors of MNC ("Board") wishes to announce that Setara Tech and Vision Works had on 16 November 2021 mutually agreed to terminate the MOU with effect from 19 November 2021 as there is no further material development of the MOU (“Termination”).
The Termination is not expected to have any material effect on the earnings, net assets, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 30 April 2022.
The Termination is not subject to the approval of the Company’s shareholders and/or any regulatory authorities.
None of the directors, major shareholders and/or persons connected with them has any interest, whether direct or indirect, in the Termination.
This announcement is dated 17 November 2021.
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Announcement Info
| Company Name | M N C WIRELESS BERHAD |
| Stock Name | MNC |
| Date Announced | 17 Nov 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-17112021-00010 |