XOX

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MEMORANDUM OF UNDERSTANDING XOX BHD - EXPIRY OF MEMORANDUM OF UNDERSTANDING WITH VFL WOLFSBURG-FUßBALL GMBH

XOX BHD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
XOX BHD
- EXPIRY OF MEMORANDUM OF UNDERSTANDING WITH VFL WOLFSBURG-FUßBALL GMBH

Reference is made to the Company’s announcements dated 12 October 2022, 30 November 2022, 28 February 2023, 31 May 2023, 29 August 2023 and 30 November 2023, respectively, in relation to the Memorandum and Understanding (“MOU”) entered between Perak FC Sdn. Bhd. (“Perak FC”), an indirect wholly-owned subsidiary of the Company, and VFL WOLFSBURG-FUßBALL GMBH (“Wolfsburg”) (“Announcements”).

 

Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

XOX Bhd (“XOX” or “the Company”) wishes to announce that as of 31 December 2023, there is no conclusion reached in the negotiation between Perak FC and Wolfsburg regarding the commercial terms and agreement. In view thereof, the MOU shall be deemed automatically terminated on 31 December 2023 and have no further force and effect (“MOU Expiry”).

 

Following the MOU Expiry, Perak FC and/or Wolfsburg shall not have any claim whatsoever, directly or indirectly, against the other in respect of the MOU. The MOU Expiry will not have any material financial impact on XOX and its subsidiaries.

 

This announcement is dated 2 January 2024.






Announcement Info

Company Name XOX BHD
Stock Name XOX
Date Announced 02 Jan 2024
Category General Announcement for PLC
Reference Number GA1-02012024-00104