YONGTAI

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OTHERS YONG TAI BERHAD ("YTB" OR "THE COMPANY") TERMINATION OF SHARE ACQUISITION AGREEMENT BETWEEN YONG TAI BERHAD AND TAN YEN YEN DATED 8 JUNE 2021 ("SHARE ACQUISITION AGREEMENT")

YONG TAI BERHAD

Type Announcement
Subject OTHERS
Description
YONG TAI BERHAD ("YTB" OR "THE COMPANY")

TERMINATION OF SHARE ACQUISITION AGREEMENT BETWEEN YONG TAI BERHAD AND TAN YEN YEN DATED 8 JUNE 2021 ("SHARE ACQUISITION AGREEMENT")

Unless otherwise stated, all capitalised terms set out herein shall have the same meanings as those set out in YTB’s announcements dated 8 June 2021 and 28 June 2022 in relation to the Share Acquisition Agreement. 

We refer to the earlier announcements dated 8 June 2021 and 28 June 2022 in relation to the above matter.

The Board of Directors of YTB wishes to announce that the parties have via a termination letter dated 20 January 2023 (“Termination Letter”), mutually agreed to terminate the Share Acquisition Agreement with immediate effect (“Termination”) due to the non-fulfilment of the condition precedent of the Share Acquisition Agreement. 

Upon the Termination, the Share Acquisition Agreement shall have no further force or effect and neither party shall have any claims whatsoever against the other in respect of the Share Acquisition Agreement.

The Termination will not have any material financial impact on YTB and its subsidiaries.

The Termination Letter will be made available for inspection at the registered office of YTB during normal office hours from Monday to Friday (except public holidays) at B-25-2, Block B, Jaya One, No. 72A, Jalan Prof Diraja Ungku Aziz, 46200 Petaling Jaya, Selangor Darul Ehsan, for a period of 3 months from the date of this announcement.

This announcement is dated 20 January 2023.

 






Announcement Info

Company Name YONG TAI BERHAD
Stock Name YONGTAI
Date Announced 20 Jan 2023
Category General Announcement for PLC
Reference Number GA1-18012023-00069