Announcements

Date : 19 November 2014

MATERIAL LITIGATION Protasco Berhad - Material Litigation

PROTASCO BERHAD

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionProtasco Berhad - Material Litigation

We refer to the Announcement dated 22 September 2014 wherein Protasco Berhad ("Protasco" or the "Company") had therein announced that it has commenced legal proceeding under Suit No. 22NCC-362-09/2014 (the “1st Suit”) to (a) firstly, recover monies paid to PT Anglo Slavic Utama (“PT ASU”) pursuant to the Amended and Restated Sale and Purchase Agreement dated 29 January 2014; and (b) against two (2) of its directors, Mr Tey Por Yee (“Tey”) and Mr Ooi Kock Aun (“Ooi”) for damages for breach of their fiduciary and statutory duties as well as for fraud on the Company.

The Company wishes to announce that it has come to the Company’s knowledge that Tey, Ooi and their lawyer, one, Mr Gideon Tan (“Gideon Tan”) of M/s Gideon Tan Razali Zaini, Advocates and Solicitors, who acts for Tey and Ooi in the 1st Suit had attempted to pervert and or obstruct the course of justice by interfering with the evidence of a key witness of the Company in respect of the 1st Suit.

In this respect, the Company obtained the statutory declarations of the key witness and his Indonesian lawyers relating to the interference.

Consequently thereto, the Company has filed committal proceedings against Tey, Ooi and Gideon Tan and the Company has obtained leave of Court on the 18 November 2014 to initiate committal proceedings against Tey, Ooi and Gideon Tan and to Show Cause as to why Tey, Ooi and Gideon Tan should not be fined and or be committed to imprisonment for contempt of Court for attempting to pervert and or obstruct the course of justice by interfering with the evidence of a key witness of the Company in respect of the 1st Suit. The High Court has fixed 8 December 2014 as the date for the High Court to hear the committal proceedings.



Announcement Info

Company NamePROTASCO BERHAD  
Stock Name PRTASCO    
Date Announced19 Nov 2014  
CategoryGeneral Announcement
Reference NoCA-141119-62130

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