Zelan Berhad (“Company”) would like to announce that its wholly owned subsidiary, Zelan Holdings (M) Sdn Bhd (“ZHSB”) was informed by its solicitors in the evening of 7 December 2020 that the Cassation Court in Abu Dhabi has rejected ZHSB’s appeal against the decision of the Court of Appeal in Abu Dhabi on 3 November 2020. The Cassation Court dismissed ZHSB’s appeal to annul the Arbitration Award dated 30 December 2019 for the sum of AED 28,934,208.90 obtained by Reliance MEP LLC (“REMCO”) in Abu Dhabi Center of Commercial Reconciliation and Arbitration and ZHSB’s Grievance to challenge the Ratification of the Arbitration Award obtained by REMCO on 2 February 2020 in the Court of Appeal in Abu Dhabi. 

The Company will make further announcement on any material development in respect of this matter, from time to time. 

This Announcement is dated 8 December 2020.