MAGMA

0.195

-0.005 (-2.5%)

MATERIAL LITIGATION MAGMA GROUP BERHAD (FORMERLY KNOWN AS IMPIANA HOTELS BERHAD) ("MAGMA" OR "THE COMPANY") UPDATES ON MATERIAL LITIGATION KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO: WA-22NCC-392- 06/2023 BETWEEN PUBLIC BANK BERHAD ("PLAINTIFF") AGAINST ASTAKA MEKAR SDN BHD, DATA SEPADU SDN BHD, IMPIANA SDN BHD AND DATO' SERI ISMAIL @ FAROUK BIN ABDULLAH ("DEFENDANTS") [THE SUIT]

MAGMA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MAGMA GROUP BERHAD (FORMERLY KNOWN AS IMPIANA HOTELS BERHAD) ("MAGMA" OR "THE COMPANY")

UPDATES ON MATERIAL LITIGATION  KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO: WA-22NCC-392- 06/2023 BETWEEN PUBLIC BANK BERHAD ("PLAINTIFF") AGAINST ASTAKA MEKAR SDN BHD, DATA SEPADU SDN BHD, IMPIANA SDN BHD AND DATO' SERI ISMAIL @ FAROUK BIN ABDULLAH ("DEFENDANTS") [THE SUIT]

The Board of Directors of Magma wishes to announce that the Company has on 5 January 2024 received a letter from Messrs Benjamin Dawson, the solicitors for the Plaintiff indicating that the Plaintiff has consented to withdraw the Suit against the Defendants, with no order as to costs.

 

In line with this, the Plaintiff has sought a Case Management date to obtain the leave from court to withdraw the lawsuit with no order as to costs.

 

The Court has scheduled the Case Management for this matter on 9 January 2024.

 

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court.

 

This announcement is dated 5 January 2024.






Announcement Info

Company Name MAGMA GROUP BERHAD
Stock Name MAGMA
Date Announced 05 Jan 2024
Category General Announcement for PLC
Reference Number GA1-05012024-00057