General Announcement for PLC
10/06/2021MATERIAL LITIGATION SEDANIA INNOVATOR BERHAD ("SEDANIA" or "the Company") - Kuala Lumpur High Court Summon No. WA-22NCvC-879-11/2019 between Sedania Technologies Sdn. Bhd. ("the Plaintiff") vs (1) Professional Science Technologies Sdn. Bhd. ("1st Defendant") and (2) Encik Muzir Bin Md Zanib ("2nd Defendant")(collectively, referred to as "the Defendants")
SEDANIA INNOVATOR BERHAD |
Type | Announcement |
Subject | MATERIAL LITIGATION |
Description | SEDANIA INNOVATOR BERHAD ("SEDANIA" or "the Company") - Kuala Lumpur High Court Summon No. WA-22NCvC-879-11/2019 between Sedania Technologies Sdn. Bhd. ("the Plaintiff") vs (1) Professional Science Technologies Sdn. Bhd. ("1st Defendant") and (2) Encik Muzir Bin Md Zanib ("2nd Defendant")(collectively, referred to as "the Defendants") |
Reference is made to the Company’s announcement on Material Litigation dated 28 November 2019, and continuous updates reported in the fourth quarterly report for the financial year ended (“FYE”) 31 December 2019 announced on 25 February 2020, first quarterly report, second quarterly report, third quarterly report and fourth quarterly report for the FYE 31 December 2020 announced on 19 May 2020, 27 August 2020, 25 November 2020, 25 February 2021 respectively; and the first quarterly report for the financial year ending 31 December 2021 announced on 31 May 2021 in relation to the above matter.
The Board of Directors of SEDANIA wishes to announce that the Plaintiff and the Defendants had on 10 June 2021 entered into a Settlement Agreement for the Plaintiff to accept the sum of Ringgit Malaysia: One Million and Five Hundred Thousand (RM1,500,000.00) only as full and final settlement of the Judgment Sum (“Settlement Sum”) in the following manner subject to the terms and conditions as stipulated in the Settlement Agreement:-
Any further material development of the above matter will be announced in due course.
This announcement is dated 10 June 2021. |
Announcement Info
Company Name | SEDANIA INNOVATOR BERHAD |
Stock Name | SEDANIA |
Date Announced | 10 Jun 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-10062021-00063 |