PNEPCB

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MEMORANDUM OF UNDERSTANDING PNE PCB BERHAD ("PNE" OR "THE COMPANY") - TERMINATION OF MEMORANDUM OF UNDERSTANDING BETWEEN PNE, ARZON SOLAR, LCC, SANICHI TECHNOLOGY BHD AND AT SYSTEMATIZATION BERHAD

PNE PCB BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
PNE PCB BERHAD ("PNE" OR "THE COMPANY")
- TERMINATION OF MEMORANDUM OF UNDERSTANDING BETWEEN PNE, ARZON SOLAR, LCC, SANICHI TECHNOLOGY BHD AND AT SYSTEMATIZATION BERHAD

Further to our announcements made by the Company on 18 May 2020, 27 May 2020, 29 June 2020, 26 August 2020, 25 November 2020, 25 February 2021, 28 May 2021, 25 August 2021, 22 November 2021, 25 February 2022 and 31 May 2022 pertaining to the Memorandum of Understanding entered into between PNE, ARZON SOLAR, LCC, SANICHI TECHNOLOGY BHD ("STB") AND AT SYSTEMATIZATION BERHAD ("ATS") ("parties") for the purpose of collaboration for PNE, STB and ATS or any of their subsidiaries to form a joint venture company ("JVCo") among the parties to design, research and development and production of medical grade mechanical air ventilators and to be distributed and marketed globally ("MOU"), the Board of Directors of PNE wishes to inform that the parties had mutually agreed to terminate the MOU with effect from 28 June 2022 ("Termination"). The parties agree that each party shall not make any claim against the other party due to the Termination.

 

The Termination does not have any financial impact to the Company and its subsidiaries.

 

This announcement is dated 28 June 2022.






Announcement Info

Company Name PNE PCB BERHAD
Stock Name PNEPCB
Date Announced 28 Jun 2022
Category General Announcement for PLC
Reference Number GA1-28062022-00027