MATERIAL LITIGATION V.S. INDUSTRY BERHAD (VSIB OR THE COMPANY) ORIGINATING SUMMONS FOR OPPRESSION FILED BY VSIB AGAINST LIM CHANG HUAT (LCH), LIM CHEE KON (LCK), CHOW CHUN POOI@CHOW CHAN LEONG (CCP) AND NEP HOLDINGS (MALAYSIA) BERHAD (NEP)
| V.S. INDUSTRY BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | V.S. INDUSTRY BERHAD (VSIB OR THE COMPANY) ORIGINATING SUMMONS FOR OPPRESSION FILED BY VSIB AGAINST LIM CHANG HUAT (LCH), LIM CHEE KON (LCK), CHOW CHUN POOI@CHOW CHAN LEONG (CCP) AND NEP HOLDINGS (MALAYSIA) BERHAD (NEP) |
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1. Reference is made to the previous announcement dated 29 November 2023 made by the Company. The terms herein shall bear the same meaning as defined in the said announcement.
2. The Company wishes to announce that LCH, LCK and NEP have filed an application in Enclosure 38 to transfer the Oppression OS to the Kuala Lumpur High Court hearing Suit No. WA-22NCC-371-08/2022 (“Suit 371”) for that Court to make orders and/or directions or alternatively for a stay of the Oppression OS pending the disposal of the full trial of Suit 371 which is scheduled to continue on 20, 21 and 23 May 2024 and 13 June 2024.
3. On 15 April 2024, the High Court Judge heard both parties’ submissions and dismissed Enclosure 38 with costs of RM10,000.00 in favour of the Company.
4. The Company also wishes to announce that on 14 March 2024, LCH, LCK and NEP have filed an application in Enclosure 50 for the Oppression OS to be converted to a writ action and to be heard by way of oral evidence. Directions have been given for parties to file written submissions in respect of Enclosure 50.
5. The High Court Judge has fixed 19 June 2024 for hearing of Enclosure 50 and the Oppression OS.
6. Any further development(s) of the above matters will be announced in due course |
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Announcement Info
| Company Name | V.S. INDUSTRY BERHAD |
| Stock Name | VS |
| Date Announced | 15 Apr 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15042024-00043 |