The Board of Directors of LEBTECH wishes to inform that LCSB, a wholly owned subsidiary of LEBTECH, had on 9 November 2016 received a Writ of Summons and Statement of Claim from Messrs Yee How & Tan, acting on behalf of Makin Juta.

1. The date of the presentation of the Writ of Summons and Statement of Claim

The Writ of Summons and the Statement of Claim were dated 28 October 2016. Both were served on LCSB vide Messrs Yee How & Tan, being the solicitors for Makin Juta via a letter dated 26 October 2016 of which LCSB received on 9 November 2016.

LCSB is required to enter an appearance at the Court within fourteen (14) days from the service of this Writ.

2. The particulars of the claim under the Writ of Summons and Statement of Claim, including the amount claimed for and the interest rate.

The claim pursuant to the Writ of Summons and Statement of Claim are as below :

(a) The sum of RM110,286.70 being the amount owing by LCSB as at 28 October 2016;

(b) Interest at the rate of 1.5% per month on the amount of RM110,286.70 stated above and calculated from 15 February 2014 until the date of full settlement;

(c)  Court fee and Solicitor fee incurred for this Writ of Summons and Statement of Claim;

And any fixed amount for cost and, in the event Makin Juta managed to obtain ruling for substituted service, an additional amount to be determined.

3. The details of the default or circumstances leading to the filing of the Writ of Summons and Statement of Claim on LCSB

According to the Statement of Claim, Makin Juta had through a firm of lawyer acting on its behalf, issued a letter dated 26 May 2016 to LCSB and demanded the payment of the outstanding sums of RM110,286.70. Thereafter, Makin Juta filed the Writ of Summons with Shah Alam Session Court as LCSB has failed to pay the outstanding sums demanded.

4. The financial and operational impact of the Writ of Summons and Statement of Claim on the Group.

The Writ of Summons and Statement of Claim is not expected to have any material financial and operational impact on the Group.

5. The expected losses, if any arising from the Writ of Summons and Statement of Claim

Beside the legal costs of the case, LCSB is not expected to incur any further losses arising from the Writ of Summons and Statement of Claim.

6. The steps taken and proposed to be taken by LCSB in respect of the Writ of Summons and Statement of Claim

LCSB is seeking the necessary legal advice to remedy this situation. Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 10 November 2016.