OTHERS DUFU TECHOLOGY CORP. BERHAD (DUFU OR THE COMPANY) - UPDATES ON ANNOUNCEMENT IN RELATION TO RECEIPT OF ALLEGATION LETTER

DUFU TECHNOLOGY CORP. BERHAD

Type Announcement
Subject OTHERS
Description
DUFU TECHOLOGY CORP. BERHAD (DUFU OR THE COMPANY)
- UPDATES ON ANNOUNCEMENT IN RELATION TO RECEIPT OF ALLEGATION LETTER

Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the announcement dated February 11, 2015, March 3, 2015,
March 7, 2015, May 27, 2015, June 29, 2015, July 7, 2015, July 16, 2015 and July 31, 2015 respectively in relation to the Receipt of Allegation Letter.

Further to the Company’s announcement dated July 31, 2015, the Board wishes to update the following action taken by the Board in addressing the undermentioned Issues:-

1st Issue:-

  • D1 has on August 27, 2015 tendered his resignation as an Executive Director and Chief Executive Officer of the Company and has relinquished all his positions in Dufu Group with no claims against the Company.

 

  • Accordingly, the Board has on the same day appointed an Acting Chief Executive Officer to take over the job and responsibilities of D1.

 

  • The Company has also on August 27, 2015 entered into a Settlement Agreement with D1 to recover the sum of USD0.66 million (being the balance sum remitted to U.S.A, after the refund of USD0.35million) from D1 upon the terms and conditions as stipulated in the said Settlement Agreement. 

 

2nd Issue:-

  • Dufu has via its solicitors issued notice of demand to recover the sum of RM543,781.41 from Company A. In the event that Dufu is unable to recover the sum from Company A, the Board will take all action appropriate at that time upon advice of legal counsel.

 

Further to the finalization of the Investigation and completion of the deliberation thereof, the Board hereby approves the dissolution of the IC of the Company with immediate effect.

This announcement is dated August 27, 2015.






Announcement Info

Company Name DUFU TECHNOLOGY CORP. BERHAD
Stock Name DUFU
Date Announced 27 Aug 2015
Category General Announcement for PLC
Reference Number GA1-27082015-00077