MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) Kuala Lumpur Originating Summons WA-24NCC-350-08/2017 (Suit 350)

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) 
Kuala Lumpur Originating Summons WA-24NCC-350-08/2017 (Suit 350)

This suit was commenced by Tan Yeang Tze and the Defendants named therein are as follows:-

  1. MAK LIN KUM
  2. CHIN WUI CHOONG
  3. AHMAD AMYRYN BIN ABD MALEK
  4. DATO’ SERI MOHD SHARIFF BIN OMAR
  5. KONG HON KAY
  6. DATO’ DR. YAP TATT KEAT
  7. CHIN PENG WAI
  8. SAHARUN NIZAM BIN SAHARAN
  9. MOHD MAHYUDIN BIN ZAINAL
  10. MOHD FAHAMI BIN MOHAMED
  11. TAN TONG LANG
  12. IRE-TEX CORPORATION BERHAD

The Board of Directors of Ire-Tex wishes to announce that on 28.8.2017, Tan Yeang Tze commenced an action vide Suit 350 against the Company and the Defendants named above.

Tan Yeang Tze also filed an application for an ex-parte injunction (“Enclosure 4”) against the above Defendants and the same was fixed for hearing on 29.8.2017.

The Court upon hearing Enclosure 4 granted an injunction as follows:

1. An injunction to restrain the Defendants and each of them from issuing any statements or announcements through Bursalink on the Bursa Malaysia website or on the Company’s website or otherwise howsoever except to provide latest information on material litigation or on non-contentious matters wherein:

1.1. the contents of the announcement must be approved by the 1st to 4th Defendants and the Board as appointed by the 25th August EGM whose decision shall be conveyed by Hamdan bin Mohd Nor or Y.M Raja Hizad bin Raja Kamarulzaman, and

 

1.2.all such announcements that have been approved by both sides only shall be published by the Company Secretary for the time being of the Company

2. An injunction to prohibit the 1st, 2nd, 3rd, 4th, 7th, 8th,  9th, 10th and 11th Defendants and each of them except with the approval of the Board as appointed by the 25th August EGM whose decision shall be conveyed by Hamdan bin Mohd Nor or Y.M Raja Hizad bin Raja Kamarulzaman from:

2.1. calling or convening any other general meeting of the Company other than the Company’s AGM or from appointing any more directors to the Board of the Company 

 

2.2. taking any action to postpone or delay the Annual General Meeting of the said Company which has been called for Tuesday, 19th September 2017 (the Company’s AGM”)

 

2.3. entering the Plaintiff’s premises in Kulim, Kedah save for the 2nd 7th and 8th Defendants pursuant to their contracts of employment with the Company

 

2.4. lodging any police reports on behalf of the Company in relation to the dispute among shareholders

 

2.5. issuing any payments from the Company or any of its subsidiaries except for the payment of the following:

(a) Salary, statutory deductions, income tax for the employees of the Company which sums shall not include any payments to any of the 1st to 10th Defendants claiming to be a director of the Company as named-above save and except the salary, statutory deductions and income tax of the 7th and 8th Defendants in their capacities as employees of the Company

(b) Suppliers following the terms of usual course of business;

(c) Payments to Messrs UHY (as the Company’s auditor) and Boardroom.com Sdn Bhd (as the Company Secretary and Share Registrar)

(d) Such payments as are required for the proper convening of the Company’s AGM on 19th September 2017 at the Kulim Golf and Country Club; and

(e)  Any other payment that is agreed by the 1st to 4th Defendants and the Board as appointed by the 25th August EGM whose decision shall be conveyed by Hamdan bin Mohd Nor or Y.M Raja Hizad bin Raja Kamarulzaman

2.6. commencing any fresh litigation or entering into any judgment by consent or suffering any judgment to be entered against the Company

3. An injunction to restrain the 1st to 10th Defendants from removing and/or downloading and/or copying any confidential data, information, documents or materials owned by the Plaintiff, except with the approval of both the 1st to 4th Defendants and the Board as appointed by the 25th August EGM whose decision shall be conveyed by Hamdan bin Mohd Nor or Y.M Raja Hizad bin Raja Kamarulzaman

4. No order was made as to the costs of the ex parte hearing

The Court has fixed the matter for inter-partes hearing on 12.9.2017 at 8.30 a.m. before the learned Judge, Yang Arif Azizul Azmi Bin Adnan at the Kuala Lumpur High Court, Jalan Duta.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 5th September, 2017.






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 05 Sep 2017
Category General Announcement for PLC
Reference Number GA1-05092017-00014