Memorandum Of Understanding With Quintum Technologies Inc
BackJun 18, 20041. Introduction
The Board of Directors of Unified Communications Holdings Limited (the "Company") wishes to announce that its wholly-owned subsidiary, Unified Communications Sdn Bhd ("UCSB"), has on 18 June 2004 signed a non-binding Memorandum of Understanding ("MOU") with Quintum Technologies Inc ("Quintum"), a company incorporated in the United States of America and a leading Voice over Internet Protocol ("VoIP") equipment manufacturer.
2. Salient terms of the MOU
(i) Quintum will deploy UCSB's UniLink SS7 Gateway (which include Unified SS7 software, the related Application Program Interface and the relevant Intel Datakinetics SS7 products) as its OEM (Original Equipment Manufacturer) products and to bundle to its VoIP solution for sale to its distributors and customers ("OEM Project").
(ii) UCSB and Quintum mutually agree to enter into negotiations in good faith with a view to enter into a formal agreement to set out the agreed terms and conditions for the OEM project.
(iii) The MOU is valid for a period of six (6) months from the date of execution of the MOU, unless otherwise extended by mutual agreement between UCSB and Quintum.
3. Interest of directors, controlling shareholders and substantial shareholders
None of the directors, controlling shareholders or substantial shareholders of the Company have any interest, direct or indirect, in the abovementioned MOU.
4. General
Shareholders of the Company are advised to note that the MOU is not a record of an agreement or intended to be binding between the parties.
The Company will make further announcements in relation to the MOU as and when terms are finalised.