HRC WORLD PLC

NASDAQ FIRST NORTH, COPENHAGEN
TICKER: HRC
ISIN: GB00BZ3CDY20

28 May 2019

PROPOSED ACQUISITION OF UP TO 70% OF EQUITY INTEREST IN ENCORE MELAKA THEATRE BY HRC MUSIC PLC

The Board of Directors of HRC World Plc (HRC), a company that provides strategic restaurant management services for restaurant chains across Asia, is pleased to announce that its wholly-owned subsidiary, HRC Music Plc (“HRCM”) has today entered into a Memorandum of Understanding for the proposed acquisition of up to 70% of equity interest through subscription of the enlarged equity in PTS Impression Sdn Bhd (“PTSI”)(a wholly-owned subsidiary of Yong Tai Berhad (“YTB”)(a company listed in the Main Market of Bursa Malaysia). PTSI owns the Encore Melaka Theatre.

The directors of HRC believes that the proposed acquisition will further strengthen HRCM’s business aspirations by leveraging on the network of HRC’s business in restaurant and café management especially in promoting Encore Melaka Theatre to Chinese tourists as well as promoting Encore Melaka Theatre to both international and local tourists through the events that will be organised by HRCM in the near future.

The Directors anticipate being in a position to provide a further update to the Market in approximately 10 weeks from now.

THE DIRECTORS OF HRC WORLD PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT

 

About HRC World Plc
HRC World Plc is an England & Wales incorporated public company with registration number 10829936 and is quoted on Nasdaq First North (Copenhagen). HRC World provides café management services for developing tourist-based and event-based revenues in member restaurants as well as implementation of HRC Music initiatives.

Further information may be found at the Company’s website: www.hrcplc.co.uk

Company contact details
HRC World Plc
+603 7786 0500
info@hrcplc.co.uk

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