TMS

Type	:	Announcement
Subject	:	OTHERS
Description	:	Heads of Agreement between The Media Shoppe Berhad (“TMS”) and Viewnet Computer System Sdn Bhd (“Viewnet”)
Announcement Details/Table Section : The Board of Directors wishes to announce that the Company had on 19 January 2012 entered into a Heads of Agreement with Viewnet, who is engaged in the business of trading in software, hardware, multimedia, internet and electronic commerce providers and facilitators. TMS sees synergistic value in Viewnet and is willing to acquire Viewnet after a due diligence is carried out to verify the representations including the accounts furnished by Viewnet. This Heads of Agreement is valid for 9 months and the validity term may be extended with mutual consent from both parties. Both parties are desirous of entering into more detailed definitive formal Agreement(s) setting out in detail the acquisition of Viewnet by the Company in the form of a Sale and Purchase Agreement (“Agreement(s)”) within nine (9) months from the date of this Heads of Agreement. None of the Directors and/or the substantial shareholders of TMS or any persons connected to them have any interest, direct or indirect in the Heads of Agreement. Should there be any development pertaining thereto, the Company will make the necessary announcement accordingly. This announcement is dated 19 January 2012.