General Announcement for PLC

29/10/2021

MEMORANDUM OF UNDERSTANDING EXPIRY OF MEMORANDUM OF UNDERSTANDING BETWEEN LAMBOMOVE SDN. BHD. ("LAMBOMOVE"), A WHOLLY-OWNED SUBSIDIARY OF LAMBO GROUP BERHAD ("LAMBO" OR "THE COMPANY") AND GEM LIVE SDN. BHD. ("GEM")

LAMBO GROUP BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description 
EXPIRY OF MEMORANDUM OF UNDERSTANDING BETWEEN LAMBOMOVE SDN. BHD. ("LAMBOMOVE"), A WHOLLY-OWNED SUBSIDIARY OF LAMBO GROUP BERHAD ("LAMBO" OR "THE COMPANY") AND GEM LIVE SDN. BHD. ("GEM")

Reference is made to Lambo’s announcements dated 6 April 2020, 9 April 2020 and 30 July 2020 respectively, in relation to the Memorandum of Understanding (“MOU”) entered into between Lambomove and GEM (“Announcements”).

 

Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

Lambo wishes to announce that there is no conclusion on the negotiation between Lambomove and GEM as at 29 October 2021. In view thereof, the MOU shall be deemed as lapsed with effect from 29 October 2021 (“MOU Expiry”).

 

Following the MOU Expiry, Lambomove and GEM have mutually agreed that neither party shall have any claim whatsoever, directly or indirectly, against the other in respect of the MOU. The MOU Expiry will not have any material financial impact on Lambo and its subsidiaries.

 

This announcement is dated 29 October 2021.



Announcement Info

Company Name LAMBO GROUP BERHAD
Stock Name LAMBO
Date Announced 29 Oct 2021
Category General Announcement for PLC
Reference Number GA1-29102021-00044


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