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MATERIAL LITIGATION MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD (COMPANY OR MGRC) - STATUS UPDATE ON THE ORIGINATING SUMMONS AT THE KUALA LUMPUR HIGH COURT AGAINST THE COMPANY

MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD (COMPANY OR MGRC)
- STATUS UPDATE ON THE ORIGINATING SUMMONS AT THE KUALA LUMPUR HIGH COURT AGAINST THE COMPANY

We refer to the Company’s announcement dated 15 January 2024 in relation to the Originating Summons (“OS”) filed by Aswath A/L Ramakrishnan (“Plaintiff”), an Independent Non-Executive Director of the Company, pursuant to Sections 347 and 348 of the Companies Act, 2016, for the alleged breach of fiduciary duties of the relevant personnel of the Company in connection with the trading of shares executed by MGRC Trading Sdn Bhd that had caused losses to the Company.

The Court has fixed the hearing date of the OS on 28 June 2024.

This announcement is dated 8 February 2024.






Announcement Info

Company Name MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD
Stock Name MGRC
Date Announced 08 Feb 2024
Category General Announcement for PLC
Reference Number GA1-08022024-00071



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