VSOLAR GROUP BERHAD - Bursa Malaysia

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Jun 8, 2016 - the Company had on 8 June 2016, entered into a Memorandum of Understanding. (“MOU”) with Universiti Te
VSOLAR GROUP BERHAD (“VSOLAR” or “Company”) (Company No.: 631995-T) (Incorporated in Malaysia under the Companies Act, 1965) ANNOUNCEMENT TO BURSA MALAYSIA

MEMORANDUM OF UNDERSTANDING 1.

Introduction The Board of Directors of Vsolar (“Vsolar” or “the Company”) wishes to announce that the Company had on 8 June 2016, entered into a Memorandum of Understanding (“MOU”) with Universiti Teknologi Malaysia (“UTM”) for the development of solar farm(s) at UTM or any other suitable site identified and provided by UTM (“the said Project”).

2.

Information on UTM and back ground of Project UTM, a public university established by virtue of the Universities and University Colleges Act, 1971 having its address at Universiti Teknologi Malaysia 81310 UTM Sekudai, Johor Darul Takzim . UTM is a Malaysian Research University and will act as Research and Development partner for the project to undertake a Collaboration and Commercialisation project with the Company. The Company and UTM agree that cooperation and collaboration shall be carried out through Research & Development and Commercialisation Programmes relating but not limited to development of solar farm(s) at UTM or any other suitable site identified and provided by UTM.

3.

Salient Terms of MOU The MOU shall commence on the date of execution of the same and shall remain in force for a duration of three (3) years and shall continue to remain in force by a written agreement between the parties.

4.

Financial Effects The MOU is not expected to have any material effect on the earnings per share, net assets per shares, gearing, share capital and the substantial shareholders’ shareholdings of the Company for the financial years ending 30 June 2016 and 30 June 2017.

5.

Directors’ and Substantial Shareholders’ Interest None of the Directors or substantial shareholders of Vsolar or person(s) connected with them have any interest, whether direct or indirect in the MOU.

6.

Statement of the Directors The Board of Directors of the Company is of the opinion that the MOU is in the best interest of the Company.

7.

Approval Required The MOU does not require the approval of the Company’s shareholders and/or any regulatory authorities.

8.

Documents for inspection The MOU will be made available for inspection at the registered office of the Company at No. 2-1, Jalan Sri Hartamas 8, Sri Hartamas, 50480 Kuala Lumpur during normal working hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 8 June 2016.