| General Announcement|
Reference No O&-061220-65124
|Submitting Merchant Bank||:||K & N KENANGA BHD|
|Company Name||:||REXIT BERHAD (MESDAQ Market)|
|Stock Name ||:||REXIT|
|Subject||:||REXIT BERHAD ("REXIT" OR "COMPANY")|
PROPOSED JOINT VENTURE BETWEEN REXIT AND MARUBENI CORPORATION OF JAPAN ("PROPOSED JOINT VENTURE")
We refer to the previous announcements made on
behalf of Rexit by K & N Kenanga Bhd ("Kenanga") in relation to the
Proposed Joint Venture and the announcement made today in relation to
the subscription of shares in Rexit International Sdn Bhd
("Subscription in Rexit International").
On behalf of the Board of Directors of Rexit,
Kenanga is pleased to announce that with the completion of the
Subscription in Rexit International, all conditions precedent and
obligations as at Closing (as set out in the Joint Venture Agreement)
have been fulfilled. As such, the Proposed Joint Venture is deemed
completed on 20 December 2006.
This announcement is dated 20 December 2006.
2007, Bursa Malaysia Berhad. All Rights Reserved.