MATERIAL LITIGATION TURIYA BERHAD ("Company" or "Turiya") A) APPEAL NO. W-02(IM)(NCC)-1827-09/2021; AND B) APPEAL NO. W-02(IM)(NCC)-1826-09/2021. -KUALA LUMPUR HIGH COURT CIVIL SUIT NO. WA-22NCC-295-07/2021 APPELLANT: EMPIRE HOLDINGS LTD RESPONDENT: I) ITHMAAR DEVELOPMENT COMPANY LTD (1st Respondent) II) ITHMAAR BANK B.S.C. (2nd Respondent); III) MAA GROUP BERHAD (3rd Respondent); IV) TUNKU DATO YAACOB KHYRA (4th Respondent); V) TURIYA BERHAD (5th Respondent).
| TURIYA BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | TURIYA BERHAD ("Company" or "Turiya")
A) APPEAL NO. W-02(IM)(NCC)-1827-09/2021; AND
B) APPEAL NO. W-02(IM)(NCC)-1826-09/2021.
-KUALA LUMPUR HIGH COURT CIVIL SUIT NO. WA-22NCC-295-07/2021
APPELLANT: EMPIRE HOLDINGS LTD
RESPONDENT:
I) ITHMAAR DEVELOPMENT COMPANY LTD (1st Respondent)
II) ITHMAAR BANK B.S.C. (2nd Respondent);
III) MAA GROUP BERHAD (3rd Respondent);
IV) TUNKU DATO YAACOB KHYRA (4th Respondent);
V) TURIYA BERHAD (5th Respondent). |
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Reference is made to the Company's announcements dated 5 July 2021, 7 July 2021, 5 August 2021, 23 September 2021, 27 September 2021, 29 September 2021 and 4 October 2021 on the above matter.
Unless otherwise defined, the terms used herein shall have the same meaning as defined in the announcements.
At the hearing of the Appellant's Notice of Motion held today in the Court of Appeal, with regards to the Appellant's application for interim orders pending the disposal of its appeals, the Appellant, 1st and 2nd Respondents, 3rd Respondent and 4th Respondent agreed to provide their respective undertakings until the disposal of the Appellant's appeals that are fixed for hearing on 1 December 2021.
The details of each party's specific undertakings are as follows:
(a) The 1st and 2nd Respondents undertake to the Court of Appeal that they shall not dispose of the shares charged and pledged by the Appellant to the 1st and 2nd Respondents; and
(b) The 3rd Respondent and Appellant undertake to the Court of Appeal:
(i) that the 3rd Respondent shall not sell, pledge or encumber the Turiya Shares;
(ii) that the 3rd Respondent shall not change the composition of the board of directors of the 5th Respondent, by itself or through any persons acting in concert, upon the cross undertaking by the Appellant not to change the composition of the board of directors of the 5th Respondent, by itself or through any persons acting in concert; and
(iii) that the 3rd Respondent shall not proceed with the Notice of Unconditional Mandatory Take-Over Offer.
The Company will make further announcement on the above matter as and when there is a material development in relation thereof and/or upon receipt of any further directions and/or orders by the Court.
This announcement is dated 15 October 2021.
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Announcement Info
| Company Name | TURIYA BERHAD |
| Stock Name | TURIYA |
| Date Announced | 15 Oct 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04102021-00120 |