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MEMORANDUM OF UNDERSTANDING PDZ HOLDINGS BHD. ("PDZ" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING ENTERED BETWEEN PDZ AND PROTEV ASIA LIMITED

PDZ HOLDINGS BHD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
PDZ HOLDINGS BHD. ("PDZ" OR "THE COMPANY")
- MEMORANDUM OF UNDERSTANDING ENTERED BETWEEN PDZ AND PROTEV ASIA LIMITED

The Board of Directors of PDZ wishes to announce that the Company had on 15 November 2021 entered into a Memorandum of Understanding (“MOU”) with Protev Asia Limited (Registration No. 1690818) ("Protev Asia"), for the purpose of assisting and supporting each other in the collaboration that will mutually benefit both parties in providing gloves for the European and other export markets. 

 

Protev Asia is a company incorporated in the British Virgin Islands under the BVI Business Companies Act 2004 and having its registered or principal place of business at Suite C, 21/F, Lee & Man Commercial Centre, 169 Electric Road, North Point, Hong Kong. It is a specialist procurement and project management with established business networking across Europe, covering industries, namely glove, automative, technology and telecommunication, network services, solar panel solutions and digital information display solutions. 

 

The MOU shall enter into force on the date of execution and shall remain in force for a period of twenty four (24) months from the date of signing unless otherwise terminated by either parties in writing.

 

The MOU is not expected to have material effects on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of PDZ for the financial year ending 31 December 2021.

 

The MOU does not constitute any legal binding obligation between the parties until definitive and binding agreements are executed between PDZ and Protev Asia.

 

None of the Directors and/or Major Shareholders of the Company and/or persons connected with Directors and/or Major Shareholders has any interest, direct or indirect, in the MOU.

 

The Board of Directors of PDZ, having considered all aspect of the MOU, is of the opinion that the MOU is in the best interest of the Company.

 

We are pleased to attach herewith a press release dated 15 November 2021 entitled "PDZ ties-up with German partner to penetrate hospitals & military market for rubber gloves in EU".

 

This announcement is dated 15 November 2021.

 




Please refer attachment below.



Announcement Info

Company Name PDZ HOLDINGS BHD
Stock Name PDZ
Date Announced 15 Nov 2021
Category General Announcement for PLC
Reference Number GA1-01102021-00022




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