TENANCY AGREEMENT ENTERED BETWEEN BTM BIOMASS PRODUCTS SDN. BHD. AND GIMZAN PLYWOOD SDN. BHD.Resources Berhad • December 15th, 2015
The Board of Directors (“Board”) of BTM Resources Berhad (“BTM”) wishes to announce that BTM Biomass Products Sdn. Bhd. (“BTM Biomass”) (formally known as BTM Global Holdings Sdn. Bhd.), a wholly-owned subsidiary of BTM has on 14 May 2015 entered into a Tenancy Agreement with Gimzan Plywood Sdn. Bhd. (Company No. 199260-P) (“GIMZAN”) rent part of a leasehold land under the master title of Hakmilik 3936, No. Lot 12373, Mukim of Bukit Payong, District of Marang, Negeri Terengganu measuring approximately 26.9177 acres (“Subject Asset”) for a period of three (3) years (“Transaction”). The Transaction is expected to commence upon the commercial production of wood pellet which is expected in September 2015 at a monthly rental of Ringgit Malaysia Twenty Six Thousand Nine Hundred Seventeen and sen Seventy (RM26,917.70) (being RM1,000 x 26.9177 acres) only with a option to renew a further term of three (3) years at the revised rental to be mutually agreed and thereafter another option to renew
