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

Reference is made to the Company’s announcements dated 24 January 2019, 20 February 2019 and 11 April 2019. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.

 

In consequence to announcement made on 11 April 2019 where the Company announced that, among others, the signing of the Share Sale Agreement dated 10 April 2019 (“SSA”) and the Novation Agreement dated 10 April 2019 (“Novation Agreement”) will bring an end to the ongoing litigation between Kemuncak Lanai Sdn. Bhd. (“Kemuncak”) and the Company wishes to announce that:

 

i) Kemuncak had on 19 April 2019 withdrawn its claim in the Suit with no order as to costs;

 

ii) the Company had withdrawn its Counter Claim in the Suit against Kemuncak with no order as to costs; and

 

iii) upon the completion of the SSA, Kemuncak shall have no further claim against the Company.

 

This announcement is dated 22 April 2019. 






Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 22 Apr 2019
Category General Announcement for PLC
Reference Number GA1-22042019-00086