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

MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD (COMPANY OR MGRC)
- STATUS UPDATE ON THE INJUNCTION APPLICATION AGAINST THE COMPANY AT THE SHAH ALAM HIGH COURT

We refer to the Company’s announcements dated 24 November 2023, 3 January 2024 and 14 February 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 the injunction application filed by the Plaintiff to injunct the Board of Directors of the Company from deliberating and resolving the matter pertaining to the Proposed Settlement Agreement with Dynamic Prestige Consultancy Sdn Bhd at its upcoming meeting on 28 February 2024 (“Application”), the Board has agreed not to take further action to oppose to the Application until the matter being disposed by the Court in due course.

This announcement is dated 22 February 2024.






Announcement Info

Company Name MALAYSIAN GENOMICS RESOURCE CENTRE BERHAD
Stock Name MGRC
Date Announced 22 Feb 2024
Category General Announcement for PLC
Reference Number GA1-22022024-00033



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