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MATERIAL LITIGATION MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD (COMPANY OR MGRC) - STATUS UPDATE ON THE ORIGINATING SUMMONS AT THE SHAH ALAM HIGH COURT AGAINST THE COMPANY - APPLICATION FOR INJUNCTION

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 SHAH ALAM HIGH COURT AGAINST THE COMPANY - APPLICATION FOR INJUNCTION

We refer to the Company’s announcements dated 24 November 2023 and 3 January 2024 in relation to the Originating Summons (“OS”) filed by Aswath A/L Ramakrishnan (“Plaintiff”), an Independent Non-Executive Director of the Company.

The Company’s solicitors has on 13 February 2024 informed that an application for injunction has been filed by the Plaintiff against the Company to injunct the matter pertaining to the proposed settlement agreement with Dynamic Prestige Consultancy Sdn Bhd to be deliberated/approved by the Board of Directors at its upcoming meeting on 28 February 2024 until the matter has been dissolved by the Court in due course.

The Company is seeking legal advice on the Application and the status shall be updated from time to time.

This announcement is dated 14 February 2024.






Announcement Info

Company Name MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD
Stock Name MGRC
Date Announced 14 Feb 2024
Category General Announcement for PLC
Reference Number GA1-14022024-00011



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