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

TP IcapAnnouncement

21/12/2021 18:50

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RNS Number : 4085W  Capital Dynamics Sdn Bhd  21 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 announcements dated 19 November 2021 and 17 December 2021 in
relation to the Interim Injunction Application ("Announcements"). Unless
otherwise defined, the definitions set out in the Announcements shall apply
herein.

Further to the hearing held on 21 December 2021, the Board of Directors of the
Fund wishes to announce that on 21 December 2021, the High Court of Malaya
Kuala Lumpur had granted the following ad interim injunction Orders upon
ICAP's undertaking to pay damages, until the disposal of the Originating
Summons No. WA-24NCC-517-11/2021 or until such further orders of the High
Court of Malaya Kuala Lumpur:-

 1.  an injunction to prohibit CLIM either by itself and/or through its nominees,
     agents, clients and/or employees, from acquiring any further shares in ICAP
     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
     14.12.2021; and
 2.  in the event CLIM either by itself and/or through its nominees, agents,
     clients and/or employees, sell and/or dispose-off and/or reduce its aggregate
     shareholding in ICAP to below 20% of the total issued capital of ICAP, an
     injunction to restrain CLIM either by itself and/or through its nominees,
     agents, clients and/or employees, from acquiring shares in ICAP that would
     result in an increase in CLIM's aggregate shareholding in ICAP in excess of
     20% of the total issued capital of ICAP.

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

This announcement is dated 21 December 2021.

 

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