1. INTRODUCTION
The Board of Directors of EA Holdings Berhad ("EAH") is pleased to announce that the Company had on 1 December 2021 entered into a Memorandum of Understanding (“MOU”) with Third Telecom Sdn Bhd (“TTSB”) to collaborate for the design, provision and distribution of broadband access solutions, services and equipment utilising the 5G technology in Malaysia.
The Company and TTSB shall be hereinafter collectively referred to as the “Parties”.
The Parties are also desirous of exploring the potential acquisition of a majority stake in TTSB by the Company to further strengthen the collaboration, subject to the terms and conditions to be agreed upon between the shareholders of TTSB and the Company.
2. SALIENT TERMS OF THE MOU
The salient terms of the MOU include, amongst others, the following:-
2.1 The Parties are desirous in collaborating in good faith, on an exclusive basis, for the design, provision and distribution of broadband access connectivity solutions, services and equipment utilising the 5G technology in Malaysia.
2.2 The Parties will combine the available expertise, skillsets, technology, customers base and business networks of both parties in the telecommunication and ICT fields to develop new and innovative solutions for the distribution and deployment of 5G broadband access solutions and services.
2.3 This MOU shall be effective for a period of six (6) months from the date of execution of this MOU (“Exclusivity Period”) or such extended period as may be agreed in writing by the Parties.
2.4 Subject to the finalization of the commercial agreement pertaining to the Reference Access Offer (RAO) by Digital Nasional Berhad, the Parties will on or before the expiration of the Exclusivity Period enter into a formal collaboration agreement to govern and regulate their respective rights, obligations and liabilities as collaborating parties on the design, provision and distribution of broadband access solutions, services and equipment utilising 5G technology in Malaysia,
2.5 This MOU represents a non-binding expression of the mutual understanding between the Parties to work in good faith towards fruition of the collaboration.
3. INFORMATION ON TTSB
TTSB was incorporated in Malaysia on 14 April 2006 as a private limited company under the name of Telshine Holdings Sdn Bhd. It changed to its present name on 13 July 2020.
TTSB is involved in telecommunication related business activities and holds an ASP (Application Service Provider) licence from the Malaysian Communications and Multimedia Commission (MCMC).
4. RISK FACTORS
The Board is not aware of any risk factors arising from the MOU as the MOU is not legally binding until the execution of a formal collaboration agreement to formalise the terms and conditions between both Parties.
5. FINANCIAL EFFECTS
The MOU is not expected to have any material effect on the net assets per share, earnings per share, gearing, share capital and substantial shareholders’ shareholdings of the Company.
6. APPROVALS
The MOU is not subject to the approval of the shareholders of the Company or any relevant authorities.
7. DIRECTORS’ STATEMENT
The Board, having taken into consideration all aspects of the MOU, is of the opinion that the MOU is in the best interest of the Company.
8. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED
None of the Directors and/or major shareholders of EAH and/ or persons connected to the them has any interest, whether direct or indirect, in the MOU.
This announcement is dated 1 December 2021.
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发表于 22-1-2022 08:26 AM
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