Rex International Holding says Gulf Hibiscus, a wholly-owned subsidiary of Hibiscus Petroleum Berhad, had on Thursday 2016, filed a writ of summons and statement of claim against the company and its wholly-owned subsidiary, Rex International Investments in the High Court of Singapore.
The writ is related to the company's and Rex International Investments’ alleged conduct in relation to Lime Petroleum Plc and other companies in which Lime Petroleum Plc has an interest, and which led to a dilution of Lime Petroleum Plc’s interests in these companies.
Rex International and its subsidiary are currently taking legal advice with respect to next steps.
Rex International is of the view that the claims and allegations against the company and its subsidiary are baseless and unmeritorious.
“The company and Rex International Investment will take all measures necessary to resist and refute these baseless and unmeritorious claims and allegations,” says Rex International in its SGX filing at 8.11pm.
The estimated value for the claims is to be assessed and the company will evaluate the financial impact, if any, of the claims.
Rex International closed 0.91% lower at 11 cents.
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The writ is related to the company's and Rex International Investments’ alleged conduct in relation to Lime Petroleum Plc and other companies in which Lime Petroleum Plc has an interest, and which led to a dilution of Lime Petroleum Plc’s interests in these companies.
Rex International and its subsidiary are currently taking legal advice with respect to next steps.
Rex International is of the view that the claims and allegations against the company and its subsidiary are baseless and unmeritorious.
“The company and Rex International Investment will take all measures necessary to resist and refute these baseless and unmeritorious claims and allegations,” says Rex International in its SGX filing at 8.11pm.
The estimated value for the claims is to be assessed and the company will evaluate the financial impact, if any, of the claims.
Rex International closed 0.91% lower at 11 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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