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MEMORANDUM OF UNDERSTANDING SOLARVEST HOLDINGS BERHAD ("SOLARVEST" OR "THE COMPANY") - MUTUAL TERMINATION OF MEMORANDUM OF UNDERSTANDING BETWEEN SOLARVEST (TAIWAN) CORPORATE LIMITED AND HSINJING HOLDING CORPORATE LIMITED

SOLARVEST HOLDINGS BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
SOLARVEST HOLDINGS BERHAD ("SOLARVEST" OR "THE COMPANY") - MUTUAL TERMINATION OF MEMORANDUM OF UNDERSTANDING BETWEEN SOLARVEST (TAIWAN) CORPORATE LIMITED AND HSINJING HOLDING CORPORATE LIMITED
Reference is made to the Company’s announcement made on 29 October 2021 in relation to the Memorandum of Understanding (“MOU”) dated 29 October 2021 entered into between Solarvest (Taiwan) Corporate Limited (“Solarvest (Taiwan)”) and Hsinjing Holding Corporate Limited (“HSINJING”).

The Board of Directors of Solarvest wishes to announce that Solarvest (Taiwan) and HSINJING had, via a notice of mutual termination dated 5 May 2022, mutually agreed to terminate the MOU with immediate effect in view that the purpose of MOU is deemed satisfied after identifying a 51%-owned subsidiary of HSINJING, Xu Guang Corporate Limited (“Xu Guang”), as a special purpose vehicle pursuant to Solarvest (Taiwan) acquiring 3,920,000 shares of Xu Guang from Long Benefit Investment Co Ltd, representing 49% of entire equity interest in Xu Guang.

Further details of the above are set out in the attachment.

This annoucement is dated 5 May 2022.




Please refer attachment below.



Announcement Info

Company Name SOLARVEST HOLDINGS BERHAD
Stock Name SLVEST
Date Announced 05 May 2022
Category General Announcement for PLC
Reference Number GA1-05052022-00041




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