MATERIAL LITIGATION MELAKA HIGH COURT CIVIL SUIT NO. 22-132-2010 GEEPAR ENTERPRISE SDN BHD (PLAINTIFF) vs DOMINANT OPTO TECHNOLOGIES SDN BHD (DEFENDANT)

D&O GREEN TECHNOLOGIES BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MELAKA HIGH COURT CIVIL SUIT NO. 22-132-2010
GEEPAR ENTERPRISE SDN BHD (PLAINTIFF) vs DOMINANT OPTO TECHNOLOGIES SDN BHD (DEFENDANT)

Reference made to the announcements made on 5 June 2015 and 7 July 2015 in respect of the above captioned matter and the Second Quarterly Results for the period ended 30 June 2015 on material litigation announced on 19 August 2015.

 

D & O Green Technologies Berhad (“D&O”) wishes to update on the outcome of the case of Melaka High Court on the Civil Suite No. 22-132-2010, wherein its 68.71% subsidiary, Dominant Opto Technologies Sdn Bhd (“Dominant” or “Defendant”), is a party to and which the Court has on 28 August 2015 delivered its decision.

 

The Melaka High Court on 28 August 2015 has allowed the Plaintiff’s claim in full against Dominant.

 

The Melaka High Court decision will not have any material effect on the share capital and shareholding of the substantial shareholders of the Company.

 

The Plaintiff’s principal claim has been accrued before and will not have any material effect on the earnings and net assets per share attributable to the owners of the company for the financial year ending 31 December 2015.  However, the awarded interest and cost has not yet been taken into account.

 

Dominant has instructed their solicitors to file an appeal to the Court of Appeal against the whole of the decision of the High Court and to simultaneously apply for a stay of execution pending the hearing and disposal of their appeal.

 

Subsequent to the delivery of the decision on 28 August 2015, the Melaka High Court, on 1 September 2015, has directed both the Plaintiff’s and the Defendant’s solicitors to appear before the Judge on 17 September 2015 for a clarification .

 

D&O will announce further material developments of the outcome of the Melaka High Court on the Civil Suite No. 22-132-2010 in due course.

 

Dominant also has an impending case in the Melaka High Court, registered as  Melaka High Court Civil Suit No: 22-125-2010 against :

 

  1. Lai Kin Shin (“1st Defendant”),

  2. 2)Goh Poh Lee (2nd “Defendant”),

  3. Lee Seng Khoon (3rd Defendant”),

  4. Geepar Enterprise Sdn Bhd (“4th Defendant”),

  5. Robert Chan Siew Kong (“5th Defendant”); and

  6. Lim Siew Yek (“6th Defendant”)

     

    Dominat’s claim against the Defendants are, inter alia, for damages to be assessed, an account of profit made by the 4th and 5th Defendants for the following causes of action:

     

    1.1st  Defendant – breach of fiduciary duties as a director,  breach of contract, and conspiracy to defraud;

    2. 2nd and 3rd Defendant – breach of contract and conspiracy to defraud; and

    3. 4th and 5th Defendant –  conspiracy to defraud

    4. 6th Defendant – knowing receipt

     

    D&O will announce further material developments of the outcome of the Melaka High Court Civil Suit No: 22-125-2010 in due course.

     

This announcement is dated 1 September 2015.






Announcement Info

Company Name D&O GREEN TECHNOLOGIES BERHAD
Stock Name D&O
Date Announced 01 Sep 2015
Category General Announcement for PLC
Reference Number GA1-01092015-00111