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MATERIAL LITIGATION LEGAL PROCEEDINGS BY FGV HOLDINGS BERHAD AGAINST ITS FORMER MEMBERS OF THE BOARD OF DIRECTORS AND FORMER EMPLOYEES ON THE ACQUISITION OF ASIAN PLANTATIONS LTD (APL)

FGV HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
LEGAL PROCEEDINGS BY FGV HOLDINGS BERHAD AGAINST ITS FORMER MEMBERS OF THE BOARD OF DIRECTORS AND FORMER EMPLOYEES ON THE ACQUISITION OF ASIAN PLANTATIONS LTD (APL)

References are made to the previous announcements on Material Litigation dated, 23 November 2018, 12 February 2019, 8 November 2019, and 7 September 2021. Pursuant to the decision made by the Court of Appeal on 6 September 2021 that allowed the 10th to 14th Defendants’ appeal (former member of the Board of Directors and former employees of the Company) and reversed the decision of the High Court, the Plaintiff filed an application for Leave to Appeal to the Federal Court on the Court of Appeal’s decision.

 

The Federal Court today heard and did not allow the Plaintiff’s application for Leave to Appeal and therefore, the Main Action and the Counterclaim will proceed to trial in the High Court.

 

The Company will make the necessary announcements on further developments of the legal proceedings as and when there is a material update.

 

All capitalized terms used herein without definition shall have the same meaning as in the previous announcements.

 

This announcement is dated 5 October 2022.






Announcement Info

Company Name FGV HOLDINGS BERHAD
Stock Name FGV
Date Announced 05 Oct 2022
Category General Announcement for PLC
Reference Number GA1-05102022-00025




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