MATERIAL LITIGATION WRIT OF SUMMONS AND STATEMENT OF CLAIM SERVED ON ALAM SEKITAR MALAYSIA SDN BHD ("ASMA"), A WHOLLY OWNED SUBSIDIARY OF PROGRESSIVE IMPACT CORPORATION BERHAD ("PICORP" OR "THE COMPANY"), BY OVAL ENGINEERING SDN BHD ("OVAL ENGINEERING").
| PROGRESSIVE IMPACT CORPORATION BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | WRIT OF SUMMONS AND STATEMENT OF CLAIM SERVED ON ALAM SEKITAR MALAYSIA SDN BHD ("ASMA"), A WHOLLY OWNED SUBSIDIARY OF PROGRESSIVE IMPACT CORPORATION BERHAD ("PICORP" OR "THE COMPANY"), BY OVAL ENGINEERING SDN BHD ("OVAL ENGINEERING"). |
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(All abbreviations used in this announcement shall have the same meanings as defined in the earlier announcements made on the dates below, unless otherwise stated or defined herein) Further to the announcements made on 26 March 2018, 29 March 2018, 17 April 2018, 26 April 2018 and 31 May 2018, the Board wishes to inform that at the Mediation Session held today, 25 June 2018, both Parties (i.e. ASMA and Oval Engineering) have reached a settlement. Without admission of any liability, and subject to Oval Engineering’s full withdrawal of the suit against ASMA without liberty to file a fresh, ASMA has agreed to pay RM110,000/- to Oval Engineering as the full and final settlement on the matter by 29 June 2018. This announcement is dated 25 June 2018.
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Announcement Info
| Company Name | PROGRESSIVE IMPACT CORPORATION BERHAD |
| Stock Name | PICORP |
| Date Announced | 25 Jun 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25062018-00029 |