Reference is made to the Company's announcement made on 22
November 2018.
The Board of Directors of Sino, wishes to announce that the Company had on 3 April 2019
entered into the following agreements:
(i) a Share Purchase Agreement with Chaswood Resources Sdn Bhd for the proposed
acquisition of 100 ordinary shares in Bistromalones (PJ) Sdn Bhd ('Bistromalones'),
representing the entire equity interest in Bistromalones, including the shares in the
entities it will acquire below, for a total purchase consideration of RM8.0 million, to
be fully satisfied in cash;
1) 100% of the total issued share capital of the Teh Tarik Place Sdn Bhd (principal and
proprietor of the 'Teh Tarik Place' brand, owner of Teh Tarik Place outlets at The Curve
and IOI Mall Puchong);
2) 100% of the total issued share capital of the Bistroamericana (TC) Sdn Bhd (TGI
Fridays restaurant at The Curve);
3) 100% of the total issued share capital of the Bistroamericana (P.J.) Sdn Bhd (TGI
Fridays restaurant at Gurney Paragon);
4) 100% of the total issued share capital of Bistroamericana (BU) Sdn Bhd (TGI Fridays
restaurant at 1 Utama);
5) 100% of the total issued share capital of the Bistroamericana (QB) Sdn Bhd (TGI
Fridays at Queensbay Mall);
6) 100% of the total issued share capital of the Bistroamericana (A) Sdn Bhd (TGI
Fridays restaurant at Alamanda Putrajaya);
7) 100% of the total issued share capital of the Bistroamericana (Hartamas) Sdn Bhd (TGI
Fridays restaurant at Hartamas Shopping Centre);
8) 100% of the total issued share capital of the Bistroamericana (SP) Sdn Bhd (TGI
Fridays restaurant at Sunway Pyramid);
9) 100% of the total issued share capital of the Bistroamericana (BB) Sdn Bhd (TGI
Fridays restaurant at Pavilion KL); and
10) 20% of total issued share capital of the Bistroamericana (J.B.) Sdn Bhd (TGI Fridays
restaurant at Wisma Jotic, Johor Bahru).
(ii) a Call Option Agreement with Craveat Management Sdn Bhd ('CMSB') for the granting
by the Company of a call option for CMSB to require the Company to sell up to 49% of the
entire paid up capital in Bistromalones to CMSB.
Please refer to the attachment for details of the announcement.
This announcement is dated 3 April 2019.
