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KLSE (MYR): MNC (0103)
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Imsam
799 posts
Posted by Imsam > 2019-09-18 19:46 | Report Abuse
The Board of Directors of the Company wishes to announce that the Company had on 18 September 2019, entered into a Memorandum of Understanding (“MOU”) with Monfils Pictures Ltd. (Company No. 5986760) ("Monfils Pictures"), for the purpose of forming an equity joint venture company in order to produce and market a movie on the biography of Tim Page, a war photo journalist, whom award winning actor, Dennis Hopper's character was based on in renowned director Francis Ford Copola's movie entitled 'Apocalypse Now'.
Monfils Pictures was incorporated under the laws of New Zealand and is having its correspondence address at Level 1, 272, Parnell Road, Auckland 1052 New Zealand. It is an award winning production house which has received international recognition/acclaim for its works.
The MOU shall enter into force on the date of execution and shall remain in force for a period of six (6) months from the date of signing unless otherwise terminated by either parties in writing.
The MOU is not expected to have material effects on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of MNC for the financial year ending 30 April 2020.
The MOU does not constitute any legal binding obligation between the parties until definitive and binding agreements are executed between MNC and Monfils Pictures.
None of the Directors and/or Major Shareholders of the Company and/or persons connected with Directors and/or Major Shareholders has any interest, direct or indirect, in the MOU.
The Board of Directors of MNC, having considered all aspect of the MOU, is of the opinion that the MOU is in the best interest of the Company.
This announcement is dated 18 September 2019.