General Announcement for PLC

07/07/2022

MATERIAL LITIGATION Material Litigation pursuant to paragraph 9.04(f) of the Bursa Malaysia Securities Berhad Ace Market Listing Requirements in respect of Writ of Summons and Statement of Claim from Bank Pembangunan Malaysia Berhad

SILVER RIDGE HOLDINGS BHD

Type Announcement
Subject MATERIAL LITIGATION
Description 
Material Litigation pursuant to paragraph 9.04(f) of the Bursa Malaysia Securities Berhad Ace Market Listing Requirements in respect of Writ of Summons and Statement of Claim from Bank Pembangunan Malaysia Berhad

Further to the announcement made on 30 June 2022 pertaining to the article published by the Edge Markets on 29th June 2022, the Board of Directors of Silver Ridge Holdings Berhad (“SRHB” or “the Company”) wishes to announce that on 7 July 2022, SRHB and its wholly-owned subsidiary, Silver Ridge Sdn Bhd (“SRSB”) received a letter today dated 6 July 2022 from Messrs. Lim Chee Wee & Partnership, the solicitors acting for Bank Pembangunan Malaysia Berhad (“Plaintiff”), accompanied by, amongst others, Writ of Summons dated 15 June 2022, Statement of Claim (“Writ Action”) and Notice for Application (Ex-Parte) for Mareva Injunction (“Application”).

 

The Writ Action is based on the tort of conspiracy in which the Plaintiff is claiming for, amongst others, damages in the sum of RM562,445,314.99.

 

The Application is presently fixed for Hearing on 15.7.2022 before Yang Arif Tuan Atan Mustaffa Yussof Ahmad via Zoom.

 

The Board of Directors shall appoint its solicitors to defend themselves in relation to the action and to oppose the Application.

 

The Company will announce further development on the above matter as and when necessary.

 

This announcement is dated 7 July 2022.



Announcement Info

Company Name SILVER RIDGE HOLDINGS BHD
Stock Name SRIDGE
Date Announced 07 Jul 2022
Category General Announcement for PLC
Reference Number GA1-07072022-00048


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