MATERIAL LITIGATION METRONIC GLOBAL BERHAD ("MGB" or "the Company") - Shah Alam High Court Civil Suit No BA-22NCC-134-10/2019

METRONIC GLOBAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
METRONIC GLOBAL BERHAD ("MGB" or "the Company")
- Shah Alam High Court Civil Suit No BA-22NCC-134-10/2019

The Company wishes to inform that it had been served with a suit at the Shah Alam High Court Civil Suit No BA-22NCC-134-10/2019 by way of counterclaim by Tan Sri Lee Kim Yew. By the said counterclaim, Tan Sri Lee Kim Yew claims against the Company and its directors to seek the following reliefs:

 

1. A declaration that the affairs of the Company are conducted and the powers of the directors are being exercised in a manner oppressive to Tan Sri Lee;

 

2. A declaration that certain shares allotted and issued on 13.6.2019, 19.6.2019 and 15.10.2019 are void and if so, for the said shares to be cancelled;

 

3. An order for the directors of the Company to pay Tan Sri Lee the sum of RM10,454,716.46;

 

4. Damages to be assessed against the Company and its directors;

 

5. Interest, costs and such further reliefs deemed fit.

 

The Company will be vehemently resisting the said counterclaim. Any further material development will be announced accordingly.

 

This announcement is dated 2 January 2020.






Announcement Info

Company Name METRONIC GLOBAL BERHAD
Stock Name MTRONIC
Date Announced 02 Jan 2020
Category General Announcement for PLC
Reference Number GA1-02012020-00083