MATERIAL LITIGATION Claim by Redberry Sdn. Bhd. ("Redberry") against Utusan Melayu (Malaysia) Berhad ("Utusan")
|Description||Claim by Redberry Sdn. Bhd. ("Redberry") against Utusan Melayu (Malaysia) Berhad ("Utusan")|
The Board of Directors of Ancom Berhad ("Ancom" or "Company") wishes to announce that its subsidiary, Redberry had, vide its solicitors, served a Writ of Summons and Statement of Claim against Utusan on 4 September 2018 to claim for return of deposits totaling RM8,500,000.00 for the proposed "advertisement, branding and communication" exercise vide letter dated 30 April 2018.
The amount claimed for includes:
(i) Refund for the sum of RM8,500,000.00;
(ii) Interest at the rate of 5% per annum on the amount of judgment, which to be assessed from the date of judgment to the date of full repayment;
(iii) Cost on a full indemnity basis; and
(iv) Such further and/or other relief as the Court deems fit.
The case has been fixed for case management at Kuala Lumpur High Court on 25 September 2018.
The Company will make further announcements in relation to any material development in this matter from time to time.
This announcement is dated 6 September 2018.