General Announcement for PLC
27/01/2022MATERIAL LITIGATION OCR GROUP BERHAD ("OCR" or the "Company") Arbitration Proceedings between OCR Properties (Kuantan) Sdn Bhd and Kencana Amanjaya Sdn Bhd
OCR GROUP BERHAD |
Type | Announcement |
Subject | MATERIAL LITIGATION |
Description | OCR GROUP BERHAD ("OCR" or the "Company") Arbitration Proceedings between OCR Properties (Kuantan) Sdn Bhd and Kencana Amanjaya Sdn Bhd |
Unless otherwise defined, all defined terms used in the announcement shall have the same meaning as defined in the Company announcements dated 19 August 2021 and 28 September 2021.
The Company wishes to announce that its 90% owned subsidiary, OCR Properties (Kuantan) Sdn Bhd (“OCRPKSB”), wholly-owned subsidiary, OCR Construction Sdn Bhd (“OCRCSB”) and Kencana Amanjaya Sdn Bhd (“KASB”) have reached an amicable settlement by entered into a Settlement Agreement (“SA”) to effect an amicable resolution of the disputes and differences between KASB on the one part, and OCRCSB and OCRPKSB on the other part by way of settlement sum payable by OCRCSB and/or OCRPKSB to KASB in the manner as set out in the SA. Except for the obligations set out in the SA, the SA shall operate as the full and final settlement of, and each party hereby unconditionally and irrevocably fully and forever releases and discharges each other from the released matters.
This announcement is dated 27 January 2022. |
Announcement Info
Company Name | OCR GROUP BERHAD |
Stock Name | OCR |
Date Announced | 27 Jan 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-27012022-00013 |