MISCELLANEOUS :: LEGAL SUITS AGAINST SUBSIDIARY
May 06, 2009
| Announcement Title | MISCELLANEOUS :: LEGAL SUITS AGAINST SUBSIDIARY |
|---|---|
Issuer & Securities |
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| Issuer/ Manager | NTEGRATOR INTERNATIONAL LTD |
| Company Registration No. | 199904281D |
| Announcement submitted on behalf of | NTEGRATOR INTERNATIONAL LTD |
| Announcement is submitted with respect to * | NTEGRATOR INTERNATIONAL LTD |
| Announcement is submitted by * | Kenneth Sw Chan Kit |
| Designation * | Company Secretary |
| Date & Time of Broadcast | 06-May-2009 18:50:14 |
| Announcement No. | 00119 |
Announcement Details |
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| Announcement Title * | LEGAL SUITS AGAINST SUBSIDIARY |
| Description | The board of directors of the Company refers to the announcements made on 21 August 2008 and 29 August 2008 in respect of the legal suit brought against the Companys wholly-owned subsidiary, Ntegrator Pte Ltd (NPL) by Victtory Remn Services (the Plaintiff) and the Company's filing of a Defence, as well as, Counterclaims against the Plaintiff and an ex-employee of NPL.The board of directors wishes to inform shareholders that all the parties to the legal suit have entered into a confidential settlement agreement on a 'no admission of liability' basis. The settlement agreement is in full and final settlement of all matters raised or connected with the legal suit.The Group is in a position to meet the obligations under the settlement agreement while continuing in the ordinary course of business. The terms of the settlement are not expected to have any material impact on the Group's financial results for the year ending 31 December 2009. By Order of the BoardSw Chan KitCompany Secretary |