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We refer to the announcements on the above dated 30 August 2017 and subsequent announcements; specifically, on the extension of the Longstop Date dated 31 May 2018 and 31 July 2018 (“Announcements”). Unless otherwise stated, the definitions used herein shall have the meanings as set out in the Announcements.

We wish to announce that the SPA dated 30 August 2017 on the Proposed Acquisition of Deodar has been terminated by PMCL (“Termination”). The Termination is due to the non-fulfilment of the conditions precedent to the SPA; in particular, regulatory approval for the resulting change of control in Deodar contemplated under the SPA.

Consequentially, edotco Labuan will not proceed with the Proposed Subscription under the SA with DH Corp of which the Subscription Monies was intended to partially fund the acquisition of Deodar.

The Parties are assessing the legal and/or financial implications of the Termination and update on the same will be provided; if any and/or material.

This announcement is dated 18 September 2018.

Announcement Info