TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS PROPOSED SUBSCRIPTION OF 35% STAKE IN A JOINT VENTURE COMPANY TO PROVIDE ICT SOLUTION FOR THE SINGAPORE ACADEMY OF LAW’S E-DISCOVERY SOFTWARE AS A SERVICE PLATFORM IN SINGAPORE

REXIT BERHAD

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	PROPOSED SUBSCRIPTION OF 35% STAKE IN A JOINT VENTURE COMPANY TO PROVIDE ICT SOLUTION FOR THE SINGAPORE ACADEMY OF LAW’S E-DISCOVERY SOFTWARE AS A SERVICE PLATFORM IN SINGAPORE
(Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the announcement dated 21 October 2013). Reference is made to the announcement dated 21 October 2013 and 20 October 2014 pertaining to the Proposed Joint Venture. The Board of Directors of Rexit wishes to announce that the termination of the Memorandum of Understanding with Stone Forest Corporate Advisory Pte Ltd and Fulcrum Asia Management Pte Ltd under the SG Law Cloud Consortium was due to the withdrawal of the Consortium Partners on the basis that the Project is commercially not feasible to pursue. This announcement is dated 24 October 2014.