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GET NICE HOLDINGS LIMITED
結 好 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 0064)
TERMINATION OF MEMORANDUM OF UNDERSTANDING
IN RELATION TO A SET UP OF A JOINT VENTURE
This announcement is made by Get Nice Holdings Limited (the "Company" together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The directors of the Company wish to provide a business update to the Company's shareholders and potential investors.
Reference is made to the announcements of the Company dated 16 January 2019, 30 June 2020 and 30 September 2020 ("MOU Announcements") in relation to, among others, a setup of a joint venture with an aim to develop an integrated resort (including a casino business) in Japan ("Project"). Unless otherwise defined herein, terms used in this announcement should have the same meaning as those defined in the MOU Announcements.
Since GWHL and Current could not reach an agreement on the major terms and conditions in respect of the joint venture agreement, the Directors decided not to proceed further on the Project. On 31 March 2021, GWHL and Current entered into a termination agreement to terminate the MOU, Second MOU and Third MOU in relation to the Project (the "Termination"). According to the termination agreement, it is mutually agreed that Current shall refund the Earnest Money of HK$25,000,000 to GWHL on or before 30 September 2021.
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The directors of the Company are of the view that the Termination would not have any material and adverse impact on the financial position and operation of the Group.
By Order of the Board
Get Nice Holdings Limited
Hung Hon Man
Chairman
Hong Kong, 31 March 2021
As at the date of this announcement, the executive directors of the Company are Mr. Hung Hon Man (Chairman and Chief Executive Officer), Mr. Cham Wai Ho, Anthony (Deputy Chairman), Mr. Kam, Eddie Shing Cheuk; and the independent non-executive directors of the Company are Mr. Man Kong Yui, Mr. Sun Ka Ziang, Henry and Mr. Siu Hi Lam, Alick.
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Get Nice Holdings Limited published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 09:37:01 UTC.