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MEMORANDUM OF UNDERSTANDING NETX HOLDINGS BERHAD - EXPIRY OF MEMORANDUM OF UNDERSTANDING WITH XOX MEDIA SDN. BHD.

NETX HOLDINGS BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
NETX HOLDINGS BERHAD 
- EXPIRY OF MEMORANDUM OF UNDERSTANDING WITH XOX MEDIA SDN. BHD.

Reference is made to the Company’s announcements dated 9 October 2020 and 29 January 2021, respectively, in relation to the Memorandum and Understanding (“MOU”) entered between GEM Pay Sdn. Bhd. (“GEM Pay”), a subsidiary of the Company and XOX Media Sdn. Bhd. (“XOX Media”), a wholly-owned subsidiary of XOX Bhd (“Announcements”).

 

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

 

NETX Holdings Berhad (“NETX” or “the Company”) wishes to announce that there is no conclusion on the negotiation between XOX Media and GEM Pay as at the expiry date of the MOU on 8 April 2021. In view thereof, the MOU shall be deemed as lapsed and have no further force and effect (“MOU Expiry”).

 

Following the MOU Expiry, XOX Media and GEM Pay have mutually agreed that neither party shall 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 NETX and its subsidiaries.

 

This announcement is dated 19 May 2021.






Announcement Info

Company Name NETX HOLDINGS BERHAD
Stock Name NETX
Date Announced 19 May 2021
Category General Announcement for PLC
Reference Number GA1-19052021-00077




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