BURSA ANNOUNCEMENTS
MATERIAL LITIGATION TALIWORKS CORPORATION BERHAD ("TCB" or "the Company") - DEYANG CIVIL SUIT NO. 121 (2014) [“THE CREDITOR SUBROGATION CIVIL SUIT”] AGAINST PURESINO (GUANGHAN) WATER CO., LTD, A SUBSIDIARY OF TALIWORKS
| TALIWORKS CORPORATION BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | TALIWORKS CORPORATION BERHAD ("TCB" or "the Company") - DEYANG CIVIL SUIT NO. 121 (2014) [“THE CREDITOR SUBROGATION CIVIL SUIT”] AGAINST PURESINO (GUANGHAN) WATER CO., LTD, A SUBSIDIARY OF TALIWORKS |
Plaintiff: Sichuan Provincial Economic and Technological Investment Guarantee Centre (“the Plaintiff”) 1st Defendant : Puresino (Guanghan) Water Co., Ltd. (“Puresino Guanghan”) 2nd Defendant: Beijing Puresino-Boda Environmental Engineering Co., Ltd. (“2nd Defendant”) 3rd Party: Sichuan Watson Environmental Engineering Co., Ltd. (“Watson Environmental”) 3rd Party: China Electronic System Engineering 3rd Construction Co., Ltd. (“CESE3”) The Board of Directors of Taliworks wishes to announce that its subsidiary company, Puresino Guanghan had on 4 November 2014 received a civil suit claim dated 30 October 2014 from Deyang Intermediate People’s Court with the following:- 1) Puresino Guanghan and 2nd Defendant shall jointly fulfill the obligation of settling the claims on the subrogation civil suit, paying to the Plaintiff an outstanding amount of RMB4.296047 million. 2) Puresino Guanghan and 2nd Defendant shall jointly pay to the Plaintiff liquidated damages of RMB4.704171 million. The Plaintiff is a creditor to Watson Environmental and the Plaintiff exercises its rights of subrogation to claim the aforesaid amount from Puresino Guanghan and the 2nd Defendant. The hearing is scheduled at 9am on 23 December 2014 and the Company will make the appropriate announcement on any developments relating to this matter in due course. This announcement is dated 5 November 2014. | |
Announcement Info
| Company Name | TALIWORKS CORPORATION BERHAD |
| Stock Name | TALIWRK |
| Date Announced | 5 Nov 2014 |
| Category | General Announcement |
| Reference No | CK-141105-803F6 |