News
Memorandum Of Understanding
| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description |
ADVANCE SYNERGY BERHAD ("ASB" OR "COMPANY") MEMORANDUM OF UNDERSTANDING ("MOU") - UPDATE ON MOU ENTERED INTO FOR THE PROPOSED DISPOSAL OF 80% EQUITY INTEREST IN SYNERGY CARDS SDN BHD ("SCSB"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY HELD VIA ADVANCE SYNERGY CAPITAL SDN BHD ("ASCAP"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
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Further to the Company’s announcements made on 5 December 2017 and 28 February 2018 pertaining to the MOU entered into by ASCAP with AppAsia Berhad (“AppAsia”) for the purpose of recording their intention to enter into a share sale agreement and other ancillary agreements in relation to the proposed disposal by ASCAP of its 80% equity interest in SCSB to AppAsia (“Proposed Disposal”), the Board of Directors of ASB wishes to announce that ASCAP has advised that the Proposed Disposal will not proceed as the parties are unable to agree on the terms of the Proposed Disposal.
This announcement is dated 21 May 2018. |
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Announcement Info
| Company Name | ADVANCE SYNERGY BERHAD |
| Stock Name | ASB |
| Date Announced | 21 May 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21052018-00073 |