News
Letter of Intent between Bursa Malaysia Berhad and Atos Euronext Market Solutions SAS
BackFeb 15, 2007
| General Announcement Reference No BM-070215-55040 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 15/02/2007 |
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| Type | : | Announcement |
| Subject | : | Letter of Intent between Bursa Malaysia Berhad and Atos Euronext Market Solutions SAS |
Contents :
Bursa Malaysia Berhad ("Bursa") wishes to announce that it has signed a Letter of Intent with Atos Euronext Market Solutions SAS ("AEMS") in relation to having further discussions on the possibility of establishing a joint venture ("JV") between the parties.
Pursuant to the Letter of Intent, the parties have expressed an interest in having further discussions in relation to the establishment of the JV premised on the following:-
? The proposed purpose of the JV would primarily be, but not limited to, providing IT Services to (a) Bursa operation and support of trading systems and (b) AEMS in areas such as quality assurance and support for other AEMS customers in the region;
? It is intended that AEMS and Bursa will each hold 50% of the shares in the JV on formation;
? It is proposed that the JV can be extended to accommodate other exchanges both as a client for the services provided by the JV and also as a shareholder (if and where such opportunities arise);
? The parties intend to work together to define a Memorandum of Understanding which will encapsulate, amongst others, further detail in relation to the scope of the JV, entities, business activities, assets, resources which would be transferred to the JV and business plan for the JV; and
? In the event that the parties decide to proceed with the JV, the parties intend to execute the JV agreement by end of September 2007.This Letter of Intent is not intended to be legally binding.As this is merely a Letter of Intent and the proposal is still very preliminary, relevant information including the total capital and investment outlay, source of funds for financing the investment, description of the prospects and risk factors involved, financial impact and the approvals required is not available or has not been ascertained as yet.
In this relation, as the Letter of Intent is merely an intention on the part of the parties to hold discussions pertaining to the proposed establishment of a JV, the Letter of Intent is not material and does not have any impact on the earnings of Bursa group.
This announcement is dated 15 February 2007.