MEMORANDUM OF UNDERSTANDING LATITUDE TREE HOLDINGS BERHAD ("LTHB" OR "THE COMPANY") STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING BETWEEN LATITUDE TREE FURNITURE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND ADVANCECON SOLAR SDN BHD
| LATITUDE TREE HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | LATITUDE TREE HOLDINGS BERHAD ("LTHB" OR "THE COMPANY")
STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING BETWEEN LATITUDE TREE FURNITURE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY AND ADVANCECON SOLAR SDN BHD |
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“Unless otherwise stated, the terms used in this announcement shall carry the same meaning as defined in the Company's announcements dated 17 July 2020, 27 November 2020 and 26 February 2021."
The Board of Directors of the Company wishes to announce that Latitude Tree Furniture Sdn. Bhd. (“LTFSB”), a wholly-owned subsidiary of the Company and Advancecon Solar Sdn. Bhd. have on 10 May 2021 mutually agreed to terminate the following MOU with immediate effect after taking into consideration of infeasibility of the project (“Termination”).
Upon the Termination, the MOU shall have no further force or effect and neither party shall have any claim whatsoever against the other, whether directly or indirectly in respect of the MOU.
The Termination of the MOU is not expected to have any material effect on the consolidated earnings and net assets per share of the Company for the financial year ending 30 June 2021.
This announcement is dated 10 May 2021. |
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Announcement Info
| Company Name | LATITUDE TREE HOLDINGS BERHAD |
| Stock Name | LATITUD |
| Date Announced | 10 May 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10052021-00061 |
