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The Board of Directors wishes to announce that its wholly-owned subsidiary, FPM, had on 17 December 2010 entered into a franchise agreement with the Franchisee to operate a Focus Point-franchised professional eye care centre in Brunei Darussalam (“Franchise Agreement”). The Focus Point-franchised professional eye care centre is located at Unit F6, 1st Floor, Times Square Shopping Centre, Simpang 13-29, Jalan Berakas, Kampung Jaya Setia, Mukim Berakas ‘A’, Bandar Seri Begawan, BB2713, Brunei/Muara, Brunei Darussalam.
The Franchisee is given an exclusive territorial right for a period of 2 years from 17 December 2010 to operate the only Focus Point professional eye care centre in Brunei Darussalam, and a similar territorial right for a further 3 years thereafter (or any extension thereof) in Times Square Shopping Centre, Bandar Seri Begawan, Brunei Darussalam.
Subject to its satisfactory performance, the Franchisee is given the option to request for the grant of a master franchisee right in Brunei Darussalam not less than 90 days before the expiration of the 2nd anniversary of this Franchise Agreement.
None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, direct and/or indirect in the transaction.
This announcement is dated 17 December 2010. |
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