ITMAX

2.300

+0.03 (+1.3%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN AIM-FORCE SOFTWARE SDN BHD ("AFSSB")

ITMAX SYSTEM BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION OF 70% EQUITY INTEREST IN AIM-FORCE SOFTWARE SDN BHD ("AFSSB")

(For consistency purposes, the abbreviations and definitions used herein shall have the same meanings as those previously defined in the announcements dated 23 August 2023, 29 August 2023 and 29 November 2023 in relation to the Proposed Acquisition, unless defined otherwise.)

 

Further to the Company’s announcements dated 23 August 2023, 29 August 2023 and 29 November 2023 in relation to the Proposed Acquisition of 70% equity interest in AFSSB, the Board wishes to announce that the Company and Aim-Force Sdn Bhd ("AFSB") have on 29 February 2024 executed a letter of further extension in respect of the binding term sheet dated 23 August 2023 entered into between AFSB and the Company. The parties had mutually agreed to further extend the extended Cut-Off Date for the execution of SSA and the Exclusivity Period, which expired on 29 February 2024, to 31 May 2024.

 

The Exclusivity Period refers to a period of 60 days from the date of the Term Sheet or such further extension of time as may be mutually agreed between the parties, the parties agree to co-operate exclusively with each other with respect to the negotiation of the terms of the SSA.

 

This announcement is dated 29 February 2024.






Announcement Info

Company Name ITMAX SYSTEM BERHAD
Stock Name ITMAX
Date Announced 29 Feb 2024
Category General Announcement for PLC
Reference Number GA1-28022024-00096