Settlement of Litigation

RNS Number : 4785H

MobilityOne Limited

22 February 2010

 



22 February 2010

 MobilityOne Limited

(the "Company")

Settlement of litigation with GHL Systems Berhad and others

Further to the announcements made by the Company on 10 September 2009 and 2 October 2009 in relation to the above litigation, the Company is pleased to announce that MobilityOne Sdn Bhd, a wholly-owned subsidiary of the Company, has entered into a settlement agreement with, inter-alia, GHL Systems Berhad, GHL Transact Sdn Bhd, Tay Beng Lock and Chin Fook Keong. Pursuant to the settlement agreement, all parties have agreed to resolve all disputes and misunderstandings which have previously arisen between them and withdraw all claims and legal actions previously made.  Pursuant to the settlement agreement, all parties have filed Notices of Discontinuance of the suits and each party shall bear its own costs and expenses for the suits.

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]
Nick Athanas/James Reeve

 

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