Soon to be listed Edelteq has issued a statement with regards to a writ filed by MiTB against Chin YK (Edelteq’s CEO) and said that the contents of the Writ will not have a material impact on the financial position and operations of the Group of its IPO.
The group added that the Board and the due diligence working group are of the opinion that the Writ relates to a personal matter between Chin YK and MiTB, and as such, it will not have a material impact on the financial position and operations of the Group.
UOBKH as the Sponsor for the Listing together are of the view that the disclosures in Section 5 of the Prospectus pertaining to Chin YK’s profile is factual in nature, and there are no false or misleading statements or other facts the omission of which would make the disclosure of the profile of Chin YK in the Prospectus false or misleading.
Edelteq said it views the litigation between MiTB and Chin YK to be a personal matter which has nothing to do with the group.
The group also said that any investors who wish to withdraw their applications for IPO Shares arising from MiTB’s announcement may submit their application.
The withdrawal application period shall be opened on 20 May 2023 and must be submitted to arrive at Malaysian Issuing House Sdn. Bhd. on or before 5.00 p.m. on 26 May 2023.
