The Board of Directors of DMB is pleased to announce that MOSB, a wholly-owned subsidiary of DMB, had on 9 March 2015 entered into a MOU with GLOTEL. The purpose of the MOU is to record the preliminary intentions and understanding of MOSB and GLOTEL with respect to their common interest and agreement to jointly study, evaluate and tender for subsea installation projects within South East Asia region.
GLOTEL is a company incorporated in Malaysia with business address at A-10-5, Level 12, Block A, Menara Uncang Emas, Jalan Loke Yew, 55200 Kuala Lumpur, Malaysia. GLOTEL's businesses are in the areas of information technology, communications solutions, medical equipment and consultancy services.
None of the Directors and/or major shareholders of DMB and/or persons connected to the Directors and/or major shareholders of DMB have any interest, direct or indirect, in the MOU or the project.
Further announcements on this proposed transaction will be made at the appropriate time.
This announcement is dated 9 March 2015.