Update re litigation

RNS Number : 1772A

MobilityOne Limited

02 October 2009

 



 MobilityOne Limited

('MobilityOne' or the 'Company')

Litigation against GHL Systems Berhad and others

Further to the announcement dated 10 September 2009, the Company wishes to announce that on 1 October 2009, MobilityOne Sdn Bhd ('MobilityOne Malaysia'), a wholly-owned subsidiary of the Company, has via its solicitors served Writ of Summons and Statement of Claims against, inter-alia, GHL Systems Berhad ('GHLS' as First Defendant), Tay Beng Lock ('TBL' as Second Defendant) and Chin Fook Keong ('CFK' as Third Defendant) for the following:

(a)                Claims made against GHLS 

 

1.                   Refund of the excess payment made to GHLS of RM1,737,897.84 (equivalent to £314,255.88*) for inventories together with interest at 8% per annum from 1 August 2005 until the date of full payment;

 

2.                   Refund of the payment made to GHLS of RM200,600.00 (equivalent to £36,273.55*) for equipment purchased but not delivered together with interest at 8% per annum from 1 May 2005 until the date of full payment;

 

3.                   Refund of the payment made to GHLS of RM520,000.00 (equivalent to £94,021.15*) for services not rendered together with interest at 8% per annum from 19 November 2005 until the date of full payment; 

 

4.                   Refund of the payment made to GHLS of RM269,330.00 (equivalent to £48,701.67*) for interest charges together with interest at 8% per annum from 29 August 2007 until the date of full payment;

 

5.                   Costs for the legal proceedings; and

 

6.                   Such further relief as the Court deems fit.

 

(b)               Claims made against TBL and CFK 

 

1.                   Compensation for negligence and breach of fiduciary duty; and

 

2.                   Other compensation to be assessed and such further relief as the Court deems fit.

 

TBL and CFK were the administrators and cheque signatories for MobilityOne Malaysia during the period when the payments to GHLS as mentioned in (a)1-4 above were made.  During the period, TBL and CFK were the Group Managing Director and Group Finance Director of GHLS, respectively. They currently remain in these positions at GHLS. 

GHLS owns 3,209,784 ordinary shares in the Company representing 4.06% of MobilityOne's existing issued share capital.

The Company will make appropriate announcements on the development of the litigation as and when it is necessary.

* Based on the exchange rate of 1 GBP  = RM5.5302 as at 1 October  2009

For further information please contact:

MobilityOne Limited
Dato' Hussain A. Rahman, CEO	Tel:  [phone]
[e-mail]	www.mobilityone.com.my
Allenby Capital Limited	Tel:  [phone]
Imran Ahmad /Nick Athanas/James Reeve
Threadneedle Communications	Tel:  [phone]
Graham Herring/Josh Royston

 

END

 

 

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