On April 19, 2017, PT Charoen Pokphand Restu Indonesia (”CPRI”), a subsidiary of the Company, signed Business Acquisition Agreement (“Agreement”) with PT Modern Sevel Indonesia (”MSI”), a subsidiary of PT Modern International Tbk (“MI”), whereas CPRI agreed to take over the business of MSI in restaurant and convenience store, as well as related assets based on franchise system.  (”Transaction”).

Until 17 June 2017, there were unfulfilled Condition Precedents for the settlement of Transaction (Closing) as stipulated in Clause 3.1 Agreement. Based on Clause 3.3 Agreement, if one of the Condition Precedents is not fulfilled before 17 June 2017 (Condition Precedent Date or 60 days after the date of Agreement), CPRI as the buyer will not bind to continue the Transaction and the Agreement will not be valid.

On April 19, 2017, PT Charoen Pokphand Restu Indonesia (”CPRI”), a subsidiary of the Company, signed Business Acquisition Agreement (“Agreement”) with PT Modern Sevel Indonesia (”MSI”), a subsidiary of PT Modern International Tbk (“MI”), whereas CPRI agreed to take over the business of MSI in restaurant and convenience store, as well as related assets based on franchise system.  (”Transaction”).

Until 17 June 2017, there were unfulfilled Condition Precedents for the settlement of Transaction (Closing) as stipulated in Clause 3.1 Agreement. Based on Clause 3.3 Agreement, if one of the Condition Precedents is not fulfilled before 17 June 2017 (Condition Precedent Date or 60 days after the date of Agreement), CPRI as the buyer will not bind to continue the Transaction and the Agreement will not be valid.