Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the previous announcements dated 13 January 2022, 17 January 2022 and 30 June 2022 (“Announcements”).
Further to the Announcements made by the Company in relation to the Litigation, the Company wishes to announce that AJSB has on 22 July 2022 entered into a Settlement Agreement with Impero Land.
Pursuant to the Settlement Agreement, Impero Land shall pay AJSB a sum of RM5,200,000.00 for settlement of the Outstanding Sum (inclusive of the payment due to AJSB pursuant to the Adjudication Decision dated 30 June 2022) (“Settlement Sum”).
This announcement is dated 22 July 2022.