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Date : 06 September 2018

MATERIAL LITIGATION Claim by Nylex (Malaysia) Berhad ("Nylex" or "Company") against Utusan Melayu (Malaysia) Berhad ("Utusan")

NYLEX (MALAYSIA) BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Claim by Nylex (Malaysia) Berhad ("Nylex" or "Company") against Utusan Melayu (Malaysia) Berhad ("Utusan")

The Board of Directors of Nylex wishes to announce that the Company 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 RM10,000,000.00 for the proposed “advertisement, branding and communication” exercise vide letter dated 29 January 2018 and for “Nationwide Corporate Branding” and “Corporate Social Responsibility” campaign vide two (2) letters dated 27 February 2018.

The amount claimed for includes:

(i) Refund for the sum of RM10,000,000.00;

(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 18 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.

 






Announcement Info

Company Name NYLEX (MALAYSIA) BERHAD
Stock Name NYLEX
Date Announced 06 Sep 2018
Category General Announcement for PLC
Reference Number GA1-06092018-00054



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