GDB

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MATERIAL LITIGATION GDB Holdings Berhad ("GDB" or "the Company") - Originating Summons No. WA-28JM-10-04/2024 by Fictionist Studio ("FS") to place Damai City Sdn. Bhd. ("DCSB") and KSK Land Sdn. Bhd. ("KSKL") under judicial management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Kuala Lumpur ("the Originating Summons") - Notice of Application to intervene and to strike out the Originating Summons in the High Court of Malaya at Kuala Lumpur ("the Notice of Application")

GDB HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
GDB Holdings Berhad ("GDB" or "the Company")
- Originating Summons No. WA-28JM-10-04/2024 by Fictionist Studio ("FS") to place Damai City Sdn. Bhd. ("DCSB") and KSK Land Sdn. Bhd. ("KSKL") under judicial management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Kuala Lumpur ("the Originating Summons")
- Notice of Application to intervene and to strike out the Originating Summons in the High Court of Malaya at Kuala Lumpur ("the Notice of Application")
This announcement is made pursuant to a previous announcement dated 15 April 2024 with regards to the same matter.

As previously reported on 15 April 2024 relating to FS’ application to place DCSB and KSKL under judicial management and for the appointment of a judicial manager pursuant to Sections 404 and 405 of the Companies Act 2016, the Board of Directors of the Company wishes to inform that Grand Dynamic Builders Sdn Bhd (“GDBSB”), a wholly-owned subsidiary of the Company, had been notified by its solicitors that the hearing of the Originating Summons and the Notice of Application proceeded today where the Notice of Application was allowed by the High Court, granting amongst others, the following orders:

(a)  GDBSB was granted leave to intervene; and
(b)  the Originating Summons was struck out with costs.


This announcement is dated 13 May 2024. 





Announcement Info

Company Name GDB HOLDINGS BERHAD
Stock Name GDB
Date Announced 13 May 2024
Category General Announcement for PLC
Reference Number GA1-13052024-00048