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MATERIAL LITIGATION Citaglobal Berhad (formerly known as WZ Satu Berhad) ("CITAGLOBAL" or "the Company") - Update on Adjudication under the Construction Industry Payment & Adjudication Act 2012 by Proweld Engineering Sdn. Bhd. against Citaglobal Energy Sdn. Bhd. (formerly known as WZS Misi Setia Sdn. Bhd.)

CITAGLOBAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Citaglobal Berhad (formerly known as WZ Satu Berhad) ("CITAGLOBAL" or "the Company") - Update on Adjudication under the Construction Industry Payment & Adjudication Act 2012 by Proweld Engineering Sdn. Bhd. against Citaglobal Energy Sdn. Bhd. (formerly known as WZS Misi Setia Sdn. Bhd.)

Further to the Company’s announcements made on 6 December 2022 and 2 February 2023, Citaglobal Energy Sdn. Bhd. (formerly known as WZS Misi Setia Sdn. Bhd.) (“Citaglobal Energy”) was, on 24 February 2023, served an Originating Summons and supporting affidavit filed in the Shah Alam High Court by Proweld Engineering Sdn. Bhd. (“PESB”) through their solicitors to register the adjudication decision dated 5 December 2022 in the High Court.

The Originating Summons filed by PESB will not have any material financial effect to CITAGLOBAL group of companies.

Further announcement will be made to Bursa Malaysia Securities Berhad as and when there are material developments on the above matter.

This announcement is dated 24 February 2023.






Announcement Info

Company Name CITAGLOBAL BERHAD
Stock Name CITAGLB
Date Announced 24 Feb 2023
Category General Announcement for PLC
Reference Number GA1-24022023-00067




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