News

Reference is made to the Company’s announcement on 3 September 2019 in relation to the Memorandum of Understanding entered into between KABT and RDMA (hereinafter referred to collectively as “Parties” and individually as “Party”) to maximise the benefits from both Parties’ mutual interests in translating areas of business practices into developing new technology solutions, expansion of market shares as well as identifying strategic business developments and revenue generations for both Parties.

The Board of Directors of KAB (“Board”) wishes to announce that KABT, a wholly owned subsidiary of the Company, has on 21 October 2019, entered into a Joint Venture and Shareholders’ Agreement (“JVSA”) with RDMA to formalise and set out the basic terms of their relationship with each other via their respective investment participation in the joint venture through a joint venture company (“JV Co”) to be incorporated to carry out the business of the joint venture (“Proposed Joint Venture”).

Please refer to the attachment for further details on the JVSA.