Announcement Details/Table Section :
We refer to our announcement made on 17 December 2010 in relation to the franchise agreement entered into by FPM with the Franchisee on even date, for the franchise of a professional eye care centre under the franchise name of “Focus Point” located within the Times Square Shopping Centre in Brunei Darussalam (“Times Square Outlet”) (“Times Square Franchise Agreement”). Under the Times Square Franchise Agreement and subject to its satisfactory performance, the Franchisee was 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 that agreement.
Further thereto, the Board of Directors of Focus Point wishes to announce that FPM had, on 5 April 2012 entered into a master franchise agreement with the Franchisee, granting the Franchisee the exclusive territorial right to operate professional eye care centres under the franchise name of “Focus Point” for a period of ten (10) years commencing from 17 December 2010 (being the date of the Times Square Franchise Agreement), in Brunei Darussalam (“Master Franchise Agreement”).
Subject to the terms as set out in the Master Franchise Agreement, the Franchisee agrees and undertakes to open at least six (6) professional eye care centres under the franchise name of “Focus Point”, including the Times Square Outlet, in Brunei Darussalam for the duration of the Master 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 5 April 2012.
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