JUDGMENT

Mohd Arief Emran Arifin J:

A. Introduction

[1] The Plaintiff seeks judgment against the First Defendant pursuant to the terms of the Option Agreement dated 16 June 2021 and against the Second Defendant pursuant to the Personal Guarantees executed by the Second Defendants.

B. Facts

[2] The Plaintiff had executed an Option Agreement and a Term Sheet both dated 2 June 2020.

[3] Material terms of the Option Agreement dated 2 June 2020 ("Option 1") are as follows:

(a) Plaintiff granted the First Defendant the right to buy back shares held by the Plaintiff in Impiana Hotels Berhad to the amount of 61,000,000 ordinary shares at the price of RM0.085 per share.

(b) If the Plaintiff finds that the First Defendant fails to buy the said shares back at the agreed expiration date, the First Defendant may be required to purchase the said shares by giving a notice in writing to the First Defendant for the price of RM0.085 per share.

(c) It was also agreed that the Plaintiff will be entitled to claim marketing and handling fees to be paid by the First Defendant.

[4] Material terms of the Term Sheet dated 2 June 2020 ("Term Sheet 1") are as follows:

4.1 The term sheet is a binding agreement between th