As announced previously on 11 August 2015, Protasco Berhad (“Company”) has initiated legal proceedings against PT Anglo Slavic Utama (“1st Defendant”) and two of its former directors, namely Tey Por Yee (“2nd Defendant”) and Ooi Kock Aun (“3rd Defendant”) and the said legal proceedings is fixed for trial on 1 October 2015 to 2 October 2015.

The Company announced that all the 3 Defendants have filed an application for a stay of the legal proceedings pending arbitration respectively (“stay applications”). The Company also announced that the court has fixed a date on 24 July 2015 to hear the stay applications. The court has heard parties’ submissions in relation to the 1st Defendant’s stay application only on 19 June 2015 and 24 July 2015.

The Company also announced that the court dismissed the 1st Defendant’s stay application on 11 August 2015 with costs in the cause of the action. On 18 August 2015, the 1st Defendant informed the court that they will file an appeal in the Court of Appeal. The court has fixed a date on 1 October 2015 to hear the 1st Defendant’s application to stay the proceedings pending its appeal in the Court of Appeal. In relation to 2nd and 3rd Defendant’s stay applications, the Company wishes to announce that the court has fixed a date on 2 October 2015 to hear the said stay applications.

The trial dates originally fixed on 1 and 2 October 2015 is vacated. New trial dates will be fixed during the hearing on 1 October 2015.