Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 139 40. Subsequent events (continued) 40.1 Material litigation (continued) (b) The Company vs Bursa Malaysia Securities Berhad (“Bursa”) On 3 November 2021, the Company has filed an Originating Summons (“OS”) at the High Court of Malaya at Kuala Lumpur against Bursa. The circumstances leading to the filing of the OS by the Company is based on, inter alia, the Company’s contention that the instruction given by Bursa dated 28 June 2021 and 2 July 2021 respectively to the Company to appoint Ernst & Young Consulting Sdn. Bhd. (“EY Consulting”) as a special auditor to conduct a “Special Independent Review” made pursuant to paragraphs 2.23 and 2.24 of the Main Market Listing Requirements is in excess of Bursa’s power. It is also the Company’s contention that Bursa’s instruction to the Company dated 22 October 2021 to announce a “Factual Findings Update” made by EY Consulting is also in excess of its power and ought to be declared as null and void. The Company is also seeking interim injunctive relief against Bursa pending the full and final disposal of OS to restrain Bursa from: i) making any announcement or otherwise publish, distribute or make available to anyone the “Factual Findings Update” prepared by EY Consulting; ii) exercising any power to do anything, to instruct and/or otherwise issue any directive against the Company pursuant to paragraph 2.24 of the Main Market Listing Requirement (“MMLR”) pending the full and final disposal of the OS herein; iii) from issuing any notice to the Company and the directors of the Company to show cause for any purported breach of the MMLR.