Capital A (KLSE:CAPITALA) unit Move Digital has received a seizure notice from the Singapore court sheriff as part of the enforcement of an arbitration award linked to a BigPay shareholder dispute, according to a Tuesday Malaysian bourse filing.
Shares dropped about 5% in Wednesday's afternoon trade.
The order involves the recovery of $14.7 million in buyout amount, plus minor unpaid legal cost interest.
Under the notice, shares held by Move Digital in Teleport Everywhere and BigPay are subject to seizure.
The company plans to challenge the action, stating it has grounds to object to the enforcement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments