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AGREEMENT WITH DOCSUN BIOMED LIMITED ("DOCSUN")

UCREST BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-13102022-00001
Subject AGREEMENT WITH DOCSUN BIOMED LIMITED ("DOCSUN")
Description
UCREST BERHAD ("UCREST" OR "THE COMPANY")
- REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") DATED 13 OCTOBER 2022 PERTAINING TO AGREEMENT WITH DOCSUN BIOMED LIMITED
Query Letter Contents

We refer to your Company’s announcement dated 12 October 2022, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) Details of the agreement for UCrest Berhad (“UCrest”) to invest and to lead the investment of Docsun (“Investment Agreement”), including the nature of the investment, amount to be invested by UCrest, equity interest to be invested, tenure of the Investment Agreement, financial impact of the Investment Agreement on UCrest group, risks in relation to the Investment Agreement, and whether the directors or major shareholders of UCrest and/or persons connected with them have any interest, direct or indirect, in the Investment Agreement.
2) The tenure (including commencement and completion dates) of the Exclusive Distribution Agreement with Docsun (“EDA”). To also state whether the EDA is subject to renewal, and if yes, the details of such renewal.
3) The value of the EDA, or the basis of determination of the fees payable to Docsun.
4) The financial years for which Docsun has committed to contribute USD10 million or more revenue.
5) The recourse available to UCrest in the event that the revenue guarantee/commitment is not achieved by Docsun.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

We refer to the announcement made by the Company dated 12 October 2022 (“Announcement”) and the query by Bursa Securities dated 13 October 2022 (IQL-13102022-00001) in relation to the Announcement (“Bursa Query”). Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the Announcement.

Please refer to the attachment below for the reply to the query letter from Bursa Securities.



Please refer attachment below.



Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 19 Oct 2022
Category General Announcement for PLC
Reference Number GA1-14102022-00064



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