Company Name
:
HEXAGON HOLDINGS BHD
Stock Name
:
HEXAGON  
Date Announced
:
23/01/2014


Type
:
Announcement
Subject
:
MATERIAL LITIGATION

Description
:
HEXAGON HOLDINGS BERHAD ("HHB" or "Defendant") Writ of Summon and Statement of Claim by JCL Credit Leasing Sdn Bhd (f.k.a. Jerneh Credit Leasing Sdn Bhd ("JCL" or "Plaintiff")

Announcement Details/Table Section :


Further to the announcements made on 25 October 2013, 12 November 2013, 2 December 2013 and 20 December 2013 and also the Case Management held on 28 November 2013, 19 December 2013, 30 December 2013 and 23 January 2014, the Board of Directors of HHB wishes to announce that the Learned Sessions Court Judge allowed the Plaintiff's Application for Summary Judgment on the following terms:-

1.   That the Defendant do pay to the Plaintiff the sum of RM878,218.02 due and outstanding as at 18 October 2013;

2.   The Interest at the rate of 7.14% per annum calculated on daily basis from 19 October 2013 until the date of full payment;

3.   Costs of RM4,000.00 to be paid by the Defendant to the Plaintiff.

The Board further wishes to advise that the Company is currently seeking legal advice as regards to the merit of filing an appeal against the decision of the High Court.

Further announcement on the material development of the above matter will be made in due course.

This announcement is dated 23 January 2014.


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