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MATERIAL LITIGATION ON THE ALLEGED BREACH OF CONFIDENTIAL INFORMATION, COPYRIGHT INFRINGEMENT, PATENT INFRINGEMENT, CONSPIRACY TO INJURE AND UNLAWFUL INTERFERENCE WITH TRADE ("MATERIAL LITIGATION")

EDELTEQ HOLDINGS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-14112023-00001
Subject MATERIAL LITIGATION ON THE ALLEGED BREACH OF CONFIDENTIAL INFORMATION, COPYRIGHT INFRINGEMENT, PATENT INFRINGEMENT, CONSPIRACY TO INJURE AND UNLAWFUL INTERFERENCE WITH TRADE ("MATERIAL LITIGATION")
Description
EDELTEQ HOLDINGS BERHAD ("EDELTEQ" OR THE "COMPANY")

MATERIAL LITIGATION ON THE ALLEGED BREACH OF CONFIDENTIAL INFORMATION, COPYRIGHT INFRINGEMENT, PATENT INFRINGEMENT, CONSPIRACY TO INJURE AND UNLAWFUL INTERFERENCE WITH TRADE ("LITIGATION")
Query Letter Contents

We refer to your Company’s announcement dated 9 November 2023, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The estimated potential liability to Edelteq Holdings Berhad group (“Group”) arising from the Material Litigation and the Notice of Application dated 1 November 2023 (“Committal Application”) filed by Mi Technovation Berhad and Mi Equipment (M) Sdn Bhd.
2) The financial and operational impact of the Material Litigation and the Committal Application to the Group.
3) Whether Edelteq Ventures Sdn Bhd and/or any of the other subsidiaries which are defendants to the Material Litigation is a major subsidiary of Edelteq Holdings Berhad.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

We refer to the Bursa Query Letter dated 14 November 2023 in respect of the aforesaid matter. In this connection, kindly refer below for the additional information for public release as requested:

 

(1)   The estimated potential liability to Edelteq Holdings Berhad group (“Group”) arising from the Material Litigation and the Notice of Application dated 1 November 2023 (“Committal Application”) filed by Mi Technovation Berhad and Mi Equipment (M) Sdn Bhd.

 

EDELTEQ’s Response

As the Group has been advised that there are grounds to set aside the ex-parte order granting leave for committal proceedings and to oppose the application for committal, the Group does not expect any potential financial liability arising from the Committal Application. In any event, the Group is unable to provide the estimated potential financial liability to the Group as the penalty that may be imposed by the Court in the event the Court finds that there is contempt is at the discretion of the Court.

 

(2)   The financial and operational impact of the Material Litigation and the Committal Application to the Group.

 

EDELTEQ’s Response

The Group does not expect any financial or operational impact from the Material Litigation and the Committal Application to the Group.

 

(3)   Whether Edelteq Ventures Sdn Bhd and/or any of the other subsidiaries which are defendants to the Material Litigation is a major subsidiary of Edelteq Holdings Berhad.

 

EDELTEQ’s Response

Edelteq Ventures Sdn Bhd and the four other subsidiaries, namely Edelteq Technologies Sdn Bhd, Edel Technology (M) Sdn Bhd, Camyang Enterprise Sdn Bhd and Dysteq Technique Sdn Bhd which are defendants to the Material Litigation are not major subsidiaries of Edelteq Holdings Berhad.

 

This announcement is dated 15 November 2023.





Announcement Info

Company Name EDELTEQ HOLDINGS BERHAD
Stock Name EDELTEQ
Date Announced 15 Nov 2023
Category General Announcement for PLC
Reference Number GA1-15112023-00023



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