Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 Dec 2015
Category: General Announcement for PLC
Reference Number: GA1-22122015-00084
Description: Deed of Rescission and revised Joint Venture Agreement with Option to Purchase entered into by a wholly owned subsidiary
The Board of Directors of Kobay Technology Bhd (“Kobay” or “the Company”) wishes to announce that on 22 December 2015, Kobay Project Venture Sdn. Bhd. (Company No. 558907-K) (“KPV” or “the Developer”), a wholly owned subsidiary, has entered into a Deed of Rescission to rescind the initial Joint Venture Agreement with Option To Purchase signed on 16 February 2015 and a revised Joint Venture Agreement with Option To Purchase (“the revised JVA with OTP”) with Zainul Abidin Bin Muhammad and Noorashikin Binti Zainul (hereinafter referred to as the “Vendors” or “Landowners”) for the development of all those pieces of freehold vacant lands Lot 42 and 886 respectively held under Geran Mukim (first grade) No. GM352 and 452, Mukim 11, Seberang Perai Tengah, Pulau Pinang (“the Lands”).
Detail of the announcement is herein attached.
This announcement is dated 22 December 2015.
KPV JVA with Option to Purchase.pdf