MATERIAL LITIGATION Kuala Lumpur High Court Suit No: WA-24NCC-170-05/2017 Ire-Tex Corporation Berhad vs (1) Mak Lin Kum, (2) Chin Wui Choong, (3) Ahmad Amryn Bin Abd Malek, (4) Mohd Shariff Bin Omar and (5) Tan Tong Lang

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Kuala Lumpur High Court Suit No: WA-24NCC-170-05/2017   
Ire-Tex Corporation Berhad vs (1) Mak Lin Kum, (2) Chin Wui Choong, (3) Ahmad Amryn Bin Abd Malek, (4) Mohd Shariff Bin Omar and (5) Tan Tong Lang

With reference to the announcements dated 8th, 17th and 19 May 2017, the Company wishes to clarify as follows: 

1. In OS 165, the "Plaintiff" is Ire-tex Corporation Berhad. The suit was authorized by Mak Lin Kum, Chin Wui Choong, Mohd Shariff Omar and Ahmad Amryn Abd Malek. The Defendants are 1. Elite Cosmo Group Limited, 2. Raja Hizad bin Raja Kamaruddin, 3. Hamdan bin Mohd Nor.

2. In OS 170,the “Plaintiff" also refers to Ire-tex Corporation Berhad. This suit was authorized by Dato' Dr Yap Tatt Keat, Kong Hon Kay, Raja Hizad bin Raja Kamaruddin, Hamdan bin Mohd Nor, Dato Haji Amiruddin bin  Haji Jamaluddin and Christopher Purcell. The Defendants are 1. Mak Lin Kum, 2. Chin Wui Choong, 3. Mohd Shariff Omar and 4. Ahmad Amryn Abd Malek. 

3. Both OS 165 and OS 170 are being heard together, pursuant to a Minute of Agreement reached by all solicitors and recorded in Court. It has been agreed that both cases will be determined on the following two issues:  

a) whether Elite Cosmo Group Ltd is a member of the Company within the meaning of section 311 of the Companies Act 2016.

b) whether Elite Cosmo is entitled to issue a requisition for an Extraordinary General Meeting pursuant to section 311 of the Companies Act 2016.

In deciding the above issues, it was further agreed that the factual issues regarding the question of estoppel can be argued, and the decision on these two questions will finally determine the entirety of OS165 and OS170.

4. The decision on OS165 and OS170 is scheduled to be delivered by the High Court on Friday, 2nd June 2017 at 3pm.

5. Until the hearing and disposal of OS165 and OS170, the interim injunction set out in the Announcement dated 19th May 2017 will be in force regulating the conduct of the two rival factions of persons claiming to be the lawful Board of the Company.

This announcement has been reviewed in accordance with the Interim Injunction dated 18 May 2017 in Kuala Lumpur High Court Originating Summons No. WA-24NCC-170-05/2017 by the following persons:-

1. Felix Chin Wui Choong.

2. Mak Lin Kum.

And

3. Kong Hon Kay.

4. Hamdan bin Mohd Nor.






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 23 May 2017
Category General Announcement for PLC
Reference Number GA1-23052017-00103