RCS - Capital Dynamics Sdn - Material Litigation-Interim Injunction ICAP V CLIM

TP IcapAnnouncement

17/12/2021 12:55

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RNS Number : 0658W  Capital Dynamics Sdn Bhd  17 December 2021

 IMPORTANT ANNOUNCEMENT

 MATERIAL LITIGATION
 icapital.biz Berhad ("ICAP" or the "Fund")

 - Interim Injunction Application in Originating Summons No.
 WA-24NCC-517-11/2021   ICAP v. City of London Investment Management Limited

_________________________________________________________________________

 

Further to the announcement dated 19 November 2021, the Board of Directors of
the Fund wishes to announce that the Fund has filed an application for interim
injunction in the Originating Summons No. WA-24NCC-517-11/2021 in the High
Court of Malaya Kuala Lumpur on 16 December 2021 against City of London
Investment Management Limited ("CLIM").

 

The interim injunction filed against CLIM is to, amongst others:-

 

1.   prohibit CLIM from acquiring further shares and/or increasing its
aggregate shareholding in ICAP beyond its current aggregate shareholding of
21.955% of the total issued capital of ICAP as at 14 December 2021, pending
the final determination of ICAP's Originating Summons; and

2.   prohibit CLIM from exercising and/or controlling the exercise of the
voting rights in respect of its aggregate shareholding in ICAP in excess of
20% of the total issued capital of ICAP, pending the final determination of
ICAP's Originating Summons.

 

The Fund will make further announcement on the developments of the above
matter as and when is necessary.

 

This announcement is dated 17 December 2021.

 

 

 

 

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