MATERIAL LITIGATION HANDAL RESOURCES BERHAD - In the High Court of Malaya at Kuala Lumpur Writ Summons No. WA-2NCC-35-01/2019 Kemuncak Lanai Sdn Bhd vs Handal Resources Berhad

HANDAL RESOURCES BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
HANDAL RESOURCES BERHAD
- In the High Court of Malaya at Kuala Lumpur Writ Summons No. WA-2NCC-35-01/2019
Kemuncak Lanai Sdn Bhd vs Handal Resources Berhad

Reference is made to announcements dated 24 January 2019 and 25 January 2019. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.

 

The Company wishes to announce that the Company had on 18 February 2019 filed a Defence and Counter Claim against Kemuncak Lanai Sdn Bhd (“Kemuncak”).

 

The Company is seeking the following orders in its Counter Claim against Kemuncak:

 

a) an order that Kemuncak do specifically perform the terms of the Shares Sale Agreement dated 22.1.2018 (“SSA”);

 

b) further and/or in the alternative, an order that Kemuncak shall pay the Company, damages in lieu of specific performance and such damages to be assessed by the Court;

 

c) damages;

 

d) punitive damages;

 

e) costs on a full indemnity basis;

 

f) interest at the rate of 5% per annum from the date of this Writ until the date of realisation of damages in full; and

 

g) such further and other orders as this Honourable Court deems fit.

 

The matter is now fixed for case management on 11 March 2019.

 

Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

 

This announcement is dated 20 February 2019.

 






Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 20 Feb 2019
Category General Announcement for PLC
Reference Number GA1-19022019-00080