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2020-08-11 21:08 | Report Abuse
Can we believe this news ?
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2020-08-11 21:06 | Report Abuse
The Board of Directors of INIX (“Board”) wishes to announce that it had on 11 August 2020 inked a Letter of Intent with Lyglan Properties Sdn. Bhd. (Registration No. 201301040666 (1070489-A) (“Lyglan”) to acquire a factory building from Lyglan, located in the Sendayan Industrial Zone in Negeri Sembilan State, with an area of approximately 20,250 square meters for an estimated consideration of RM35 million.
It was agreed that Inix and Lyglan would establish a joint venture company to develop the business of medical rubber gloves production. A JV company would be formed, where Inix Technology will invest RM22.75 million, accounting for 65% of the company's equity, and Lyglan will invest RM12.25 million, accounting for 35% of the company's equity.
The Parties agree to further negotiate in good faith on the terms and conditions to be reflected in the SSA, SA, and MA. Parties will proceed to sign the Share Sale Agreement (“SSA”), Shareholder Agreement (“SA”) and Management Agreement (“MA”) upon finalisation of all the terms and conditions within 120 days from the date of Intent.
This announcement is dated 11 August 2020
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Stock: [DNEX]: DAGANG NEXCHANGE BERHAD
2020-10-20 17:26 | Report Abuse
Robocop helmet news maybe