Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 147 40. Subsequent events (continued) 40.1 Material litigation (continued) (d) Bursa vs the Company (continued) vi) An order directing the Company to complete the SIR with EY Consulting, and in the event of the premature resignation of EY Consulting to continue as IR, or termination of EY Consulting as IR by the Company, an order directing the Company to appoint an independent reviewer with international affiliation, which has adequate experience and resources and with a presence in Bahrain and such other overseas locations, where the customers and suppliers which were highlighted by KPMG are located, to replace EY Consulting as IR within 14 market days from the date of this order, to complete the SIR. vii) An order directing the Company, its agents or servants to furnish bi-weekly written updates of the SIR to the Plaintiff, whether formally demanded or not by the Plaintiff. viii) Costs on an indemnity basis; ix) Such further and/or other relief and/or directions as this Honourable Court deems fit. On 26 November 2021, the Company filed an application to redact the Factual Findings Update and the relevant paragraphs in the affidavit in support that made reference to the Factual Findings Update. On 29 November 2021, the Court presiding over the OS directed that the affidavit(s) which contain the Factual Findings Update be locked out from the court system for view and/or download by all parties except for Court. On 14 December 2021, the Company filed an application to expunge the Factual Findings Update and the relevant paragraphs in the affidavit in support that made reference to the Factual Findings Update. The Court had fixed the hearing of the OS on 3 January 2022 and a case management on 20 December 2021. Apart from the potential damages to be assessed and costs which may be awarded against Bursa and the corresponding legal costs, the OS is not expected to have any other material financial impact on the Company for the financial period ended 30 June 2021. The OS is not expected to have any business and operational impacts on the Company.