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OTHERS ATTA GLOBAL GROUP BERHAD ("ATTA" or "COMPANY") - UPDATE ON SUSPENSION OF TRADING

ATTA GLOBAL GROUP BERHAD

Type Announcement
Subject OTHERS
Description
ATTA GLOBAL GROUP BERHAD ("ATTA" or "COMPANY")
- UPDATE ON SUSPENSION OF TRADING

Reference is made to the Company’s previous announcements made on 21 January 2020, 31 January 2020 and 18 February 2020 (“the Announcements”) in relation to the trading suspension of ATTA Securities and investigation on the offence under the Dangerous Drugs Act, 1952.

 

The Board of Directors of ATTA wishes to inform the further developments of the above matters as follows: 

 

1.  Seizure on the Motor Vehicles of the Company and its Subsidiaries

 

Reference is made to the Company’s announcement made on 31 January 2020 and 18 February 2020 in relation to the seizure on the motor vehicles of the Company and its subsidiaries have been released by way of the bond.  There are no further updates on the revised bond amount from the Police Diraja Malaysia (PDRM) as such the release of seized motor vehicles has been put on hold.

 

Messrs SC Ravi & Associates,  solicitors of the Company have filed Notices of Claims dated 4 March 2020 to the Public Prosecutor disputing the seized motor vehicles are within the ambit of the Dangerous Drugs (Forfeiture of Property) Act, 1988 and requesting the release of the said vehicles.     

 

2.  Seizure on Banking Accounts, CDS Accounts and Properties

 

Messrs SC Ravi & Associates, solicitors of the Company have filed Notices of Claims dated 4 March 2020 and 9 March 2020 respectively to the Public Prosecutor disputing the seized banking accounts, CDS accounts and properties are within the ambit of the Dangerous Drugs (Forfeiture of Property) Act, 1988 and requesting the release of banking accounts, CDS accounts and properties.   

  

3.   Charge against Mr. Ooi Chieng Sim

 

Reference is made to the Company’s announcement made on 18 February 2020 in relation to the matter in the Court.  The BM Magistrate’s Court had fixed the date for mention on 23 March 2020 pending the completion of the chemist report.

 

In view of the Malaysia Government’s Movement Control Order has come into effect from 18 March 2020 until 31 March 2020 pursuant to the Prevention and Control of Infectious Diseases Act, 1988 and the Police Act, 1967, all proceedings would be put on hold with court premises around the country shutting down. 

 

On 17 March 2020, a directive issued by the Chief Registrar’s Office stated that all hearings for civil and criminal cases between March 18 and March 31 would be postponed and new dates would be fixed at a later time.

 

Hence, an update announcement will be made upon fixing the new date for mention.

 

4.    Dissolution of Ad Hoc Committee

 

Reference is made to the Company’s announcement made on 21 January 2020 in relation to the formation of Ad Hoc Committee to oversee the operations and address the issues arising from the investigations by the police.

 

With the appointment of Mr. Chiok Kian Chau as Executive Chairman and re-designation of Mr. Tan Kim Hee as Executive Director on 18 February 2020, they will oversee the Group’s operations and continue to lead the Group through the current hardship.  Therefore, the following Ad Hoc Committee be dissolved with immediate effect:

 

Mr. Chiok Kian Chau

-  Chairman

Dato’ Dennis Chuah

-  Member

Mr. Sudesh a/l K. V. Sankaran

-  Member

Mr. Chow Choon Hoong

-  Member

Mr. Tan Kim Hee

-  Member

 

 

ATTA will make further announcement(s) as and when there are any material developments in relation to the above matter.

  

This announcement is dated 24 March 2020. 






Announcement Info

Company Name ATTA GLOBAL GROUP BERHAD
Stock Name ATTA
Date Announced 24 Mar 2020
Category General Announcement for PLC
Reference Number GA1-24032020-00044