1.0 INTRODUCTION The Board of Directors of the Company is pleased to announce that BTMMT has on 17 December 2015 entered into a Memorandum of Understanding ("MOU") with CCSB for the purpose of appointing BTMMT as the master franchisor for the Chicken Cottage for Johore and Singapore region. 2.0 INFORMATION OF CCSB Chicken Cottage (M) Sdn Bhd (Co. No 1060897-D), a private company incorporated under the Companies Act, 1965 is engaged in the business of management of Quick Service Restaurant franchise under brand Chicken Cottage. 3.0 SALIENT TERMS OF MOU a) CCSB and BTMMT wish to cooporate and explore the possibility of appointing BTMMT as the master franchiser for Chicken Cottage for Johore and Singapore region. b) Pending both parties' due diligence, negotiation and execution of a definitive agreement between the parties ("the Agreement"), the parties have agreed to enter this MOU to record their understanding and intention in respect of the co-operation between them. c) This MOU shall become null and void :- i) upon the execution of Agreement between the parties ; ii) after a period of 90 days or later as extended as per the parties agreement ; or iii) parties mutually agree to withdraw from this MOU.
4.0 RATIONALE THE MOU A strategic tie-up as CCSB intend to franchise the brand Chicken Cottage in Malaysia and Singapore and BTMMT intends to seek new business opportinities to increase its revenue. This MOU will be a starting point for further business exploration.
5.0 FINANCIAL EFFECTS OF THE MOU The MOU will not have any material effect on the share capital and substantial shareholders' shareholdings of the Company and is not expected to have any material effect on the net assets, earnings and gearing of the company for financial year ending 31 December 2015.
6.0 DIRECTORS'S STATEMENT None of the Directors and/or substantial shareholders and/or person connected with them have any interest, direct and/or indirect, in the MOU. Having considered all aspects of the MOU, the Board of Directors of the Company is of the opinion that the MOU is in the best interest of the Company.
7.0 APPROVAL REQUIRED The MOU is not subject to the approval of the shareholders of the company. This announcemnent is dated 23 December 2015.
First big announcement..so big BTM became BMW disti in East Coast. Price drop 50% 42.5 to 20cents. Now they became a chicken pimp sure shoot high for flying chics. I suggest use machine gun to shoot chicken to sell.
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....
Tkoklin
162 posts
Posted by Tkoklin > 2015-12-17 20:32 | Report Abuse
Forget it. This stock dead.