|The Board of Directors of Greenyield Berhad ("GREENYB") wishes to announce that its wholly-owned subsidiary, RCP Technologies Sdn Bhd ("RCP") had on 21 September 2009 signed a Research Collaboration Agreement ("RCA") with Rubber Research Institute of Vietnam of 177 Hai Ba Trung, Dist. 3, Ho Chi Minh City, Vietnam ("RRIV") for the Project Title: Evaluation of Green Plus On Nursery and Budwood Garden.
The RCA will see the conduct of research and development on a collaborative basis between RCP and RRIV, that will result in affordable high quality systems, products and services based on agro-technology that will increase the yield or/and growth of plants without long term adverse effects and will be environmentally friendly.
RRIV and RCP or its related companies shall apply for, register and maintain any patents or licences under both names on a joint basis, if information and/or results generated from the project are patentable or capable of being licensed or otherwise afforded any protection. To the extent that RRIV does acquire any such licences or rights which are only capable of being held by Vietnamese entities, both parties agree that it shall be transferred and/or licensed to RCP or its related companies at no cost.
Either party may terminate the RCA by notice in writing to the other party if the other shall have committed any breach of terms and conditions of the RCA provided that in the case of a rectifiable breach it shall have failed to rectify such breach within sixty (60) days after being called upon in writing to do so, or if the other party goes into liquidation.
Any termination of the RCA shall not relieve either party of any obligation under the RCA which is expressed to continue after termination and failure by either party in any one or more instances to terminate the RCA on account of default or breach by the other party shall not be taken to constitute a waiver of the same or of any default or breach by the other party.
RRIV is the custodian of the rubber industry in Vietnam. The primary objective of RRIV is to assist in the development and modernisation of the Vietnam rubber industry in all aspects from cultivation of the rubber tree, the extraction and processing of its raw rubber, the manufacture of rubber products and the marketing of rubber and rubber products.
None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the RCA.
This announcement is dated 24 September 2009.