DGAP-News: Memorandum of Understanding
Retrieved on:
Friday, May 22, 2020
Ltd. (the "Buyer Entity"), an advanced digital technology company incorporated in Singapore, have entered into a memorandum of understanding (the "Memorandum of Understanding"), under which, the Company (or its nominee) and the Buyer Entity will negotiate in good faith to enter into a definitive binding agreement (the "Formal Agreement") to acquire (the "Proposed Acquisition") the controlling equity share capital in the company (the "Target Company").
Key Points:
- Ltd. (the "Buyer Entity"), an advanced digital technology company incorporated in Singapore, have entered into a memorandum of understanding (the "Memorandum of Understanding"), under which, the Company (or its nominee) and the Buyer Entity will negotiate in good faith to enter into a definitive binding agreement (the "Formal Agreement") to acquire (the "Proposed Acquisition") the controlling equity share capital in the company (the "Target Company").
- The Memorandum of Understanding is exclusive and confidential and is legally binding and irrevocable.
- If the Formal Agreement cannot be entered into by the expiry of such period, the Memorandum of Understanding shall be terminated.
- Further announcement will be made by the Company when the Company enters into the Formal Agreement or the Company decides to terminate if applicable to the Memorandum of Understanding or there is any material development on the Proposed Acquisition.