General Announcement for PLC

30/11/2021

MATERIAL LITIGATION WRIT OF SUMMONS AND STATEMENT OF CLAIM BY AME CONSTRUCTION SDN BHD (PLAINTIFF), A WHOLLY-OWNED SUBSIDIARY OF AMSUN INDUSTRIES SDN BHD WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF AME ELITE CONSORTIUM BERHAD AGAINST AREA VENTURES SDN BHD (DEFENDANT)

AME ELITE CONSORTIUM BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
WRIT OF SUMMONS AND STATEMENT OF CLAIM BY AME CONSTRUCTION SDN BHD (PLAINTIFF), A WHOLLY-OWNED SUBSIDIARY OF AMSUN INDUSTRIES SDN BHD WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF AME ELITE CONSORTIUM BERHAD AGAINST AREA VENTURES SDN BHD (DEFENDANT)

Unless otherwise defined, all definitions and terms used in this announcement shall have the same meaning as defined in the announcements dated 6 November 2020, 8 February 2021, 17 February 2021, 4 March 2021, 12 April 2021, 15 June 2021, 9 July 2021, 6 August 2021 and 22 November 2021 in relation to the above Civil Suit.

The Board of AME wishes to announce that AMEC had on 30 November 2021 received the Settlement Sum of RM26,250,000.00 from AREA in accordance with the Settlement Agreement. The Settlement Sum constitutes full and final settlement of the dispute between AMEC and AREA in relation to the Contract.

This announcement is dated 30 November 2021.



Announcement Info

Company Name AME ELITE CONSORTIUM BERHAD
Stock Name AME
Date Announced 30 Nov 2021
Category General Announcement for PLC
Reference Number GA1-30112021-00017


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