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Date : 01 April 2021

MATERIAL LITIGATION In the High Court of Malaya at Kuala Lumpur in the Federal Territory of Malaysia (Special Powers Division) Application for Judicial Review No. WA-25-71-03/2021 Tamaco Plantation Sdn. Bhd. (Company No. 45922-D) ("Applicant" or "Tamaco") and 1. Ketua Pengarah Unit Perancang Ekonomi Di Jabatan Perdana Menteri 2. TH Plantations Berhad (Company No. 12696-M) ("THP" or "the Company") (both referred as "Respondents")

TH PLANTATIONS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
In the High Court of Malaya at Kuala Lumpur in the Federal Territory of Malaysia (Special Powers Division) 
Application for Judicial Review No. WA-25-71-03/2021
Tamaco Plantation Sdn. Bhd. (Company No. 45922-D) ("Applicant" or "Tamaco") and 
1.	Ketua Pengarah Unit Perancang Ekonomi Di Jabatan Perdana Menteri
2.	TH Plantations Berhad (Company No. 12696-M) ("THP" or "the Company") 
(both referred as "Respondents")

THP wishes to announce that the Company on 31 March 2021 has been served with a copy of a draft Order from the High Court of Kuala Lumpur granting as follows:

 

i.   Leave to commence Judicial Review proceedings to quash the decision of the Ketua Pengarah Unit Perancang Ekonomi di Jabatan Perdana Menteri (“EPU”) in withdrawing their letter of approval dated 24 November 2020 on 4 December 2020 in relation to the proposed disposal of THP’s entire equity interest in Bumi Suria Ventures Sdn. Bhd. and Maju Warisanmas Sdn. Bhd. to Tamaco pursuant to the Share Purchase Agreement dated 5 December 2019; and

 

ii.  An ad interim stay order in relation to the decision of the EPU in withdrawing their said letter of approval until 12 April 2021, being the date of the hearing of the inter partes application for a further stay of the said decision of the EPU until final disposal of the Judicial Review proceedings.

 

THP and the EPU have been named as Respondents in the Judicial Review proceedings.

 

The Company will make the necessary announcement as and when there are further developments in relation thereto.

 

This announcement is dated 1 April 2021.






Announcement Info

Company Name TH PLANTATIONS BERHAD
Stock Name THPLANT
Date Announced 01 Apr 2021
Category General Announcement for PLC
Reference Number GA1-01042021-00030


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