XOX

0.015

(%)

MEMORANDUM OF UNDERSTANDING XOX BHD - MEMORANDUM OF UNDERSTANDING WITH UNI COMMS INTERNATIONAL SDN. BHD.

XOX BHD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
XOX BHD
- MEMORANDUM OF UNDERSTANDING WITH UNI COMMS INTERNATIONAL SDN. BHD.

The Board of Directors of XOX Bhd (“XOX” or “the Company” or "the Group") is pleased to announce that XOX Com Sdn. Bhd. (“XOX Com”), a wholly-owned subsidiary of the Company, had on 20 December 2023 entered into a Memorandum of Understanding (“MOU”) with Uni Comms International Sdn. Bhd. (“UNICOMMS”), for the purpose to discuss and explore business collaboration between the parties particularly in the scope of White Label Mobile Services and to enhance the digital lifestyle of the students from higher education institution in Malaysia under the MYSISWA Program in particular to students from UCSI University (“UCSI”).

 

UNICOMMS is a private limited company incorporated in Malaysia, a subsidiary of UCSI Group and is a valid licensed Mobile Virtual Network Operator (“MVNO”) within Malaysia to provide telecommunication and other related services to its subscribers.

 

Pursuant to the MOU, UNICOMMS seeks White Label Mobile Services to offer to its subscribers in Malaysia. Whereas, XOX Com as a mobile virtual network service provider (“MVNSP”) shall provide the White Label Mobile Services, which without limitation, includes voice, messaging (SMS), International roaming services and data services to UNICOMMS.

 

The MOU shall commence on the date of execution i.e. 20 December 2023, and shall remain in force, unless otherwise terminated by either party in writing and communicated to the affected party and/or if a further agreement is executed between UNICOMMS and XOX Com, this MOU shall be automatically terminated.

 

The MOU will not have any effect on the share capital and substantial shareholders’ shareholdings of XOX. The MOU is also not expected to have any material immediate effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 30 September 2024.

 

None of the directors, major shareholders and/or cheif executives of the Company and/or persons connected with them have any interest, whether direct or indirect, in the MOU.

 

The MOU being incurred in the ordinary course of business, is not subject to the approval of the shareholders.

 

The Board of Directors of XOX, having taken into consideration all aspects of the MOU, is of the opinion that the MOU is in the best interest of the Group.

 

The MOU is available for inspection at the registered office of the Company at 22-09, Menara 1MK, No. 1 Jalan Kiara, Mont Kiara, 50480 Kuala Lumpur between 8.30 a.m. and 5.30 p.m. from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.

 

This announcement is dated 20 December 2023. 






Announcement Info

Company Name XOX BHD
Stock Name XOX
Date Announced 20 Dec 2023
Category General Announcement for PLC
Reference Number GA1-20122023-00037