MATERIAL LITIGATION

General Announcement
Reference No CU-110524-50550
Company Name
:
 JOHORE TIN BERHAD
Stock Name
:
 JOHOTIN
Date Announced
:
 24/05/2011
Type
:
 Announcement
Subject
:
MATERIAL LITIGATION
Description
:
JOHORE TIN BERHAD (532570-V) (“THE COMPANY” OR “JTB”)
– STATEMENT OF CLAIM DATED 26 JUNE 1997, GENERAL CONTAINERS SDN BHD (“GCSB”) ALLEGES THAT TAN CHIN WAH @ SIN YIN SAN (“1ST DEFENDANT”) HAD BREACHED HIS DUTIES AS A DIRECTOR OF GCSB , THAT THE 1ST DEFENDANT HAD CAUSED GCSB TO LOSE POSSESSION OF GCSB’S CHARGED ASSETS TO UNICAN INDUSTRIES SDN BHD (“UNI”) AND JOHORE TIN FACTORY SDN BHD (“JTF”), WHOLLY-OWNED SUBSIDIARIES OF JTB
Announcement Details/Table Section :

We refer to the announcements made under item 14.5 of Material Litigations stipulated in JTB’s Prospectus dated 19 September 2003.

The Suit was brought by GCSB against the former director of GCSB, Mr. Tan Chin Wah for breach of fiduciary duties and against UNI and JTF (Defendants) for conspiring to divest GCSB of its vital assets and business.  The Johor Bahru High Court has made a judgement in favor of the Defendants on 29 October 2010 when the High Court dismissed the suit with costs.

GCSB has appealed against this decision to the Court of Appeal.

Further development of the above matter will be announced on Bursa Malaysia Securities Berhad in due course.

This announcement is dated 24 May 2011.