PRIME GLOBAL CAPITAL GROUP INCORPORATED (NYSE:C) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.
On July 1, 2016, PGCG Assets Holdings Sdn Bhd, a Malaysia
corporation and our wholly owned subsidiary (PGCG Assets),
entered into a memorandum of understanding (MOU) with Yong Tai
Berhad, a Malaysia corporation (YTB) engaged in the business of
commercial and residential property development, to jointly
develop certain land located at Puncak Alam held under H.S.(D)
5460, PT No. 9135, Mukim Ijok, Daerah Kuala Selangor, Negeri
Selangor, measuring approximately 21.8921 hectares.
On February 15, 2017, PGCG Assets and YTB entered into a Mutual
Termination of Memorandum of Understanding (the Termination MOU)
to which the parties mutually agreed to terminate the MOU. The
parties further confirmed that there was no monetary payment due
to either party to the MOU or the Termination MOU.
The foregoing description of the Termination MOU is qualified in
its entirety by reference to the copy of the Termination MOU,
which is filed as Exhibit 10.1 to this Current Report and
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description |
| 10.1 |
Mutual Termination of Memorandum of Understanding dated February 15, 2017. |
About PRIME GLOBAL CAPITAL GROUP INCORPORATED (NYSE:C)
Citigroup Inc. (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. It operates through two segments: Citicorp and Citi Holdings. Citicorp is focused on providing products and services to customers and leveraging the Company’s global network, including various economies. Global Consumer Banking (GCB) consists of Citi’s geographical consumer banking businesses that provide traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. PRIME GLOBAL CAPITAL GROUP INCORPORATED (NYSE:C) Recent Trading Information
PRIME GLOBAL CAPITAL GROUP INCORPORATED (NYSE:C) closed its last trading session up +0.46 at 60.63 with 15,120,623 shares trading hands.
