Captii Limited

Company Registration No. 200211129W

High Court Judgment in Suit No. 885 of 2019 issued in respect of Associated Company OOPA Pte. Ltd. against Mr. Bui Sy Phong

  1. Introduction
    The Board of Directors of Captii Limited (the "Company") refers to the Company's previous announcement made on 6 September 2019 ("6 Sep Announcement") in relation to Suit No 885 of 2019 ("Suit") filed by OOPA Pte. Ltd. ("OOPA") against Mr. Bui Sy Phong ("Mr. Bui").
    Unless otherwise defined, capitalised terms in this document shall have the same meaning as ascribed to them in the 6 Sep Announcement.
  2. Judgment
    The Board of Directors of the Company wishes to update the Company's shareholders that on 16 June 2021, the High Court issued a judgment in favour of OOPA in respect of the Suit.
    The High Court held that, amongst others, the following:
    1. Mr. Bui usurped a maturing business opportunity pursued by OOPA and hence breached his fiduciary duties to OOPA. Mr. Bui was therefore liable to OOPA for these breaches of duty; and
    2. Mr. Bui received, held and continues to hold all of the shares registered in his name in Telio Pte. Ltd. ("Telio") for the benefit of and on trust for OOPA.

Accordingly, the High Court ordered, amongst others, that Mr. Bui:

  1. transfer all of the shares registered in his name in Telio to OOPA and account for dividends (if any) derived from such shares to date; and
  2. pay for legal costs and disbursements incurred in the Suit in favour of OOPA.

The Company will make further announcements on any material developments on the above and the progress on OOPA's enforcement of the High Court judgment as and when appropriate.

Shareholders are advised to exercise caution when dealing in the securities of the Company and to refrain from taking any action in relation to their shares which may be prejudicial to their interests.

By Order Of The Board

Anton Syazi Ahmad Sebi

Executive Director

17 June 2021

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Captii Ltd. published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 09:31:01 UTC.