Reference is made to the Company’s previous announcements made on 21 January 2020, 31 January 2020, 18 February 2020, 24 March 2020, 13 April 2020 and 22 May 2020 (“the Announcements”) in relation to the trading suspension of ATTA Securities and development of the investigation on the offence under the Dangerous Drugs Act, 1952.

The Board of Directors of ATTA wishes to inform the further developments of the above matters as follows:

1.     Reference to Court for Determination of Ownership

        Reference is made to the Company’s announcement made on 22 May 2020 in respect of the Application for Return of the Seized Properties.

       The summons were issued to the following Company and its subsidiaries under Section 32(2) of Dangerous Drugs (Forfeiture of Property) Act, 1988 dated 29 April 2020 which received on 19 June 2020:

1. ATTA Global Group Berhad
2. Duro Metal Industrial (M) Sdn. Bhd.
3. Metal Perforators (Malaysia) Sdn. Bhd.
4. Park Avenue Construction Sdn. Bhd.
5. Progerex Sdn. Bhd.
6. SMPC Industries Sdn. Bhd.
7. Syarikat Perkilangan Besi Gaya Sdn. Bhd.

      The provision provides for the investigation authority to refer such claim to for the Court’s determination. Upon production of proof that the property was legally acquired by proper means, the court to their satisfaction and shall release the property to the owner.

      The Company has exercised its right under the Law to apply for release of the seized properties and the Court has set a date on 2 July 2020 for the first case management.  The Company has provided proof of purchases and business income and all other related documents for the acquisition of the seized properties to the Company’s Solicitors so that a proper case can be presented to the Court.  The Company believes that it has satisfied the burden of proof required under the Law to justify the claim.  Under the court’s timeline for cases of this nature, the case is expected to complete within nine (9) months.

     On that note, the Company’s Solicitors is authorised and mandated to enter into an agreement with the relevant authority to settle this matter amicably so that the seized properties can be released back to the Company.

As at todate, no other summon is received by the Company and its subsidiaries.

2.   Letters of Resignation from Mr. Ooi Chieng Sim, Director of ATTA Group

      The Company’s subsidiaries have also on 2 June 2020 received the letters of resignation from Mr. Ooi Chieng Sim as the Director of the following subsidiaries:

      2.1     ATTA Properties Sdn. Bhd.

     2.2     Duro Metal Industrial (M) Sdn. Bhd.

     2.3     Eminent Potential Sdn. Bhd.

     2.4     Kembang Kartika Sdn. Bhd.

     2.5     Metal Perforators (Malaysia) Sdn. Bhd.

     2.6     Park Avenue Construction Sdn. Bhd.

     2.7     Progerex Sdn. Bhd.

     2.8     Scanrite Sdn. Bhd.

     2.9     Sungguh Gemilang Development Sdn. Bhd.

     2.10   Syarikat Perkilangan Besi Gaya Sdn. Bhd.

     In view of the resignation of Mr. Ooi Chieng Sim in the abovesaid companies, the Company has restructured the Board’s composition of its subsidiaries by appointing the following newly Directors in place of Mr. Ooi Chieng Sim:

     In addition, Mr. Ooi Chieng Sim has as at todate been absent from more than 50% of the total Board of Directors’ Meetings held during the financial year ending 30 June 2020 and his office as an Executive Director will, therefore, be vacated by the end of the financial year ending 30 June 2020 pursuant to Paragraph 15.05(3)(c) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and Article 20.11(h) of the Company’s Constitution.  An announcement will be made to that effect on 30 June 2020.

This announcement is dated 26 June 2020.