Group Lease Public Company Limited (the “Company”) would like to clarify the information which is posted on Kaohoon website regarding the black case No. 83/2561 that on 2 October 2018, the Company submitted to the Civil Court the application requesting a temporality injunction which requested JTA to deposit money as security for the Company’s damage. The Court scheduled the hearing date to be 7 December 2018. The application for the injunction was initiated by the Company against J Trust Asia Pte. Ltd.
The clarification is to prevent the misunderstanding of shareholders, investors and public on the Court’s order which shall be made on 7 December 2018.
The headline of the news posted on Kaohoon website on 15 November 2018 is “GL See Profit in 3Q after Lowers Expense Allowance, J Trust Case to be Settled on 7 Dec. 7” and “On November 8, 2018, the Court already completed the inquiry on the application requesting a temporary injunction. The Court scheduled the date of hearing the order of the application requesting a temporary injunction and the settlement of issues to be 7 December 2018. If there is any progress, the Company will update as appropriate.”
For main proceeding, the Court has not yet scheduled the day of taking evidence. The Company expects that the process of taking evidence will commence within 2019 and the process of taking evidence may take approximately 1-3 years. If there is any progress, the Company will update as appropriate.