Kumpulan Jetson Bhd has been served with a writ and statement of claim by former employee Teh Kian Ann seeking RM891,847.36, following the cancellation of an employee share option scheme (ESOS) in which he had participated.
The group said Teh served the company with the writ and statement of claim on July 2, 2026, in relation to his participation in the ESOS.
According to the claim, Teh alleged that he joined the ESOS in June 2025 and made payments totalling RM2.16 million.
This comprised RM1.96 million paid on June 19, 2026 and RM198,000 paid on June 23, 2025, according to the announcement.
Teh further alleged that Kumpulan Jetson subsequently cancelled the ESOS after receiving his payment, resulting in him not being allotted any shares under the scheme.
Following the cancellation, the company made partial repayments totalling RM1.27 million, comprising RM500,000 on Aug 29, 2025, RM200,000 on Sept 8, 2025 and RM569,789 on Sept 17, 2025.
Teh claimed that a balance of RM891,847.36 remained outstanding following the repayments.
He is seeking the outstanding principal sum, together with interest, legal costs and any other relief that the court may deem appropriate.
Kumpulan Jetson said the claim is not expected to have a material adverse impact on the company’s financial position, net assets, earnings or cash flow.
