Why HCT would announce something like this is a mystery. Why a Trading Halt was required is just baffling.
All this announcement boils down to is that a prospective customer agreed to take a look at what HCT has to offer. Nothing more.
“The term sheet is not a purchase agreement and does not obligate Berjaya to buy Holista’s products.”
“…the agreement will only be formalised when all parties reach consensus that they have a portfolio of products that is commercially viable, market-ready, able to compete effectively, accessible via the relevant channels, affordable to customers and sufficiently profitable.”
We have been here too many times in the past to even justify spending any time discussing it.Without a solid order and money in the bank, it should correctly be seen as yet another hollow promise.
