Legally speaking, there is no development/difference save for the fact that Cuscapi is now challenging the decision. (as can be seen from the excerpt/link below)
So what's causing the high volume/interest in cuscapi counter recently? is something brewing?
"Reference is made to the announcements dated 26 September 2018, 28 September 2018, 29 October 2018, 15 April 2019, 30 April 2019, 15 May 2019, 29 May 2019, 18 June 2019, 10 July 2019, 10 September 2019, 8 October 2019, 15 November 2019, 27 November 2019, 30 January 2020, 29 April 2020, 30 April 2020, 5 August 2020, 5 November 2020, 8 December 2020, 29 December 2020 and 31 December 2020.
Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.
The Board of Directors of Cuscapi Berhad (“Cuscapi”) wishes to inform that Cuscapi has filed for an appeal against the judgment which was granted on 31 December 2020 (“Appeal”).
Cuscapi has filed a notice of motion to stay the execution of judgment on 8 February 2021 (“Stay Motion”).
Both the Appeal and Stay Motion have been fixed for case management on 4 March 2021.
Cuscapi will make the necessary announcements on material development in respect of this from time to time.
Today it will reach 0.40. CUSCAPI 0.325 +0.065 (+25%) Changes in Sub. S-hldr's Int (Section 138 of CA 2016) CUSCAPI BERHAD
Particulars of substantial Securities Holder Name DATUK JAYAKUMAR A/L PANNEER SELVAM Nationality/Country of incorporation Malaysia Descriptions (Class) Ordinary Shares Details of changes No Date of change No of securities Type of Transaction Nature of Interest 1 18 Mar 2021 2,000,000 Acquired Direct Interest Name of registered holder Datuk Jayakumar A/L Panneer Selvam Description of "Others" Type of Transaction
Circumstances by reason of which change has occurred Acquisition of ordinary shares Nature of interest Direct Interest Direct (units) 40,745,800 Direct (%) 4.742 Indirect/deemed interest (units) 136,926,700 Indirect/deemed interest (%) 15.935 Total no of securities after change 177,672,500 Date of notice 18 Mar 2021 Date notice received by Listed Issuer 18 Mar 2021
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tehckosong
149 posts
Posted by tehckosong > 2021-02-16 18:39 | Report Abuse
Court case lost RM15million to Hitachi. Cash flow left around RM700k. PP coming very soon.