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Announcement

MEMORANDUM OF UNDERSTANDING PETROL ONE RESOURCES BERHAD (THE COMPANY OR PETONE) MEMORANDUM OF UNDERSTANDING BETWEEN PETROL ONE HOLDINGS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF PETONE AND WORLD OIL HUB SDN. BHD. (FORMERLY KNOWN AS WEBS OIL HUB SDN. BHD.)

  • Type
    Announcement
  • Subject
    MEMORANDUM OF UNDERSTANDING
  • Description
    PETROL ONE RESOURCES BERHAD (THE COMPANY OR PETONE) MEMORANDUM OF UNDERSTANDING BETWEEN PETROL ONE HOLDINGS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF PETONE AND WORLD OIL HUB SDN. BHD. (FORMERLY KNOWN AS WEBS OIL HUB SDN. BHD.)

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcements dated 2 August 2016, 4 August 2016, 2 November 2016, 2 February 2017 and 2 May 2017.

Further to the announcements dated 2 August 2016, 4 August 2016, 2 November 2016, 2 February 2017 and 2 May 2017, the Board of PETONE wishes to announce that the Parties had on 24 July 2017, mutually agreed in writing to extend the time period for the execution of the definite agreements for a further term of twelve (12) months from 1 August 2017 to 1 August 2018.

Saved for the abovementioned, all other terms and conditions of the MOU shall remain unchanged.

Further developments of the above matter will be announced to Bursa Securities in due course.

This announcement is dated 24 July 2017.

Announcement Info

  • Company Name
    PETROL ONE RESOURCES BERHAD
  • Stock Name
    PETONE
  • Date Announced
    24 Jul 2017
  • Category
    General Announcement for PLC
  • Reference Number
    GA1-24072017-00054

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