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MATERIAL LITIGATION MAA GROUP BERHAD ("MAAG" OR "THE COMPANY") HIGH COURT OF MALAYA AT KUALA LUMPUR CIVIL SUIT NO. WA-22NCC-295-07/2021: EMPIRE HOLDINGS LTD ("PLAINTIFF") VS ITHMAAR DEVELOPMENT COMPANY LTD ("1ST DEFENDANT"), ITHMAAR BANK B.S.C. (CLOSED) ("2ND DEFENDANT"), MAAG ("3RD DEFENDANT"), TUNKU DATO' YAACOB KHYRA ("4TH DEFENDANT") AND TURIYA BERHAD ("5TH DEFENDANT") (COLLECTIVELY REFERRED TO AS "DEFENDANTS")

MAA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MAA GROUP BERHAD ("MAAG" OR "THE COMPANY") 

HIGH COURT OF MALAYA AT KUALA LUMPUR CIVIL SUIT NO. WA-22NCC-295-07/2021:
EMPIRE HOLDINGS LTD ("PLAINTIFF") VS ITHMAAR DEVELOPMENT COMPANY LTD ("1ST DEFENDANT"), ITHMAAR BANK B.S.C. (CLOSED) ("2ND DEFENDANT"), MAAG ("3RD DEFENDANT"), TUNKU DATO' YAACOB KHYRA ("4TH DEFENDANT") AND TURIYA BERHAD ("5TH DEFENDANT") (COLLECTIVELY REFERRED TO AS "DEFENDANTS")

Reference is made to the Company's announcement dated 5 July 2021 in relation to the Writ of Summons dated 3 July 2021 from the Plaintiff, together with the Notice of Application dated 3 July 2021 and Affidavit in Support of Sarin Sahadev Mohan Swami affirmed on 2 July 2021. Unless otherwise stated, the terms stated herein shall have the same meaning as defined in the announcement.

 

Further to the e-review case management held on 7 July 2021, the Board of Directors of MAAG wishes to announce that the Court issued an Ad Interim Injunctive Order (interim injunction) against the Company, and against the 1st Defendant and the 2nd Defendant, details of which are as follows : - 

 

(i) that MAAG, the 3rd Defendant, whether by themselves, their directors, officers, servants and/or agents or otherwise howsoever, be restrained and an injunction be granted restraining them from selling, transferring, pledging, exercising any rights including voting rights, or howsoever dealing with the 132,151,497 ordinary shares in the 5th Defendant held as security and/or by way of charge by the 1st Defendant and/or 2nd Defendant, and owned at all material times by the Plaintiff (“the Turiya Shares”), purportedly purchased by the 3rd Defendant on or about 22-6-2021, until further order;

 

(ii) that the 3rd Defendant, whether by themselves, their directors, officers, servants and/or agents or otherwise howsoever, be restrained and an injunction be granted restraining them from taking steps in any manner whatsoever under the Notice of Unconditional Mandatory Take-Over Offer to acquire shares in the 5th Defendant other than the Turiya Shares, until further order; and

 

(iii) that the 1st Defendant and the 2nd Defendant, whether by themselves, their directors, officers, servants and/or agents or otherwise howsoever, be restrained and an injunction be granted restraining them from exercising any and/or all rights of sale, disposal, assignment and/or enforcement howsoever, over all other shares and/or assets taken as security for the facility granted to the Plaintiff, until further Order.

 

The Court has fixed 5 August 2021 for the inter parties hearing of the Injunction application.

 

The Company will make further announcement on the above matter as and when there is a material development in relation thereof and/or upon receipt of any further directions by the Court.

 

This announcement is dated 8 July 2021.






Announcement Info

Company Name MAA GROUP BERHAD
Stock Name MAA
Date Announced 08 Jul 2021
Category General Announcement for PLC
Reference Number GA1-08072021-00015


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