Seacera gets winding up notice of demand for RM34.64 million

TheEdge Wed, Apr 13, 2022 09:15pm - 4 months View Original

KUALA LUMPUR (April 13): Seacera Group Bhd said it has received a winding up statutory notice demanding a sum of RM34.64 million in connection with a share sale agreement (SSA).

In a bourse filing, Seacera said the notice was issued by solicitors acting for Ismail Othman, who signed the SSA with the group's subsidiary, Seacera Properties Sdn Bhd, in 2016.

Ismail is claiming the sum, which is inclusive of interests as of April 11, from Seacera as the group was the guarantor under the SSA.

Seacera said that based on advice of its solicitors, the group does not owe Ismail any further amount after a full settlement was made arising from a decision in a winding up court proceeding in February.

"The company will take necessary actions to defend our rights based on the legal advice from the appointed solicitors," it added.

Seacera's share price closed half a sen or 2.56% lower at 19 sen on Wednesday, valuing the group at RM118.2 million.

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