The Board of Directors (the " Board" ) of ISOTeam Ltd. (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) refers to the announcement made by the Company on 11 August 2016 relating to the entry into a memorandum of understanding with BT Industrial Coating (M) Sdn. Bhd. (&ldquo BT Industrial&rdquo ) to establish a joint venture for the purpose of engaging in the business of providing interior design services in Malaysia (the " Proposed Joint Venture" ).
The Board wishes to announce that the Company has entered into a shareholders agreement (the &ldquo SHA&rdquo ) with ITG Projects Sdn Bhd (the &ldquo JVC&rdquo ) and BT Industrial to regulate the rights of the Company and BT Industrial as the shareholders of the JVC.
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