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Announcement

MEMORANDUM OF UNDERSTANDING PETROL ONE RESOURCES BERHAD ("THE COMPANY" OR "PETONE") STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") 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") STATUS UPDATE ON MEMORANDUM OF UNDERSTANDING ("MOU") 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 in the previous announcements made by the Company on the MOU between Petrol One Holdings Sdn. Bhd. and World Oil Hub Sdn. Bhd. (formerly known as Webs Oil Hub Sdn. Bhd.).

Pursuant to Pagraph 9.29 of Main Market Listing Requirements (“Main LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of PETONE wishes to announce that the Parties had on 7 September 2018, 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 2018 to 1 August 2019.

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 7 September 2018.

Announcement Info

  • Company Name
    PETROL ONE RESOURCES BERHAD
  • Stock Name
    PETONE
  • Date Announced
    07 Sep 2018
  • Category
    General Announcement for PLC
  • Reference Number
    GA1-05092018-00067

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