Anthony See withdraws injunction application against Kian Joo on deal with Aspire Insight

-A +A

KUALA LUMPUR (Nov 27): Kian Joo Can Factory Bhd (KJCF)'s executive director Datuk Anthony See Teow Guan has applied to withdraw his injunction application to stop KJCF from holding an extraordinary general meeting to vote on a RM1.47 billion deal with Aspire Insight Sdn Bhd.

Can-One Bhd said at the case management today, See's counsel had applied to withdraw his injunction application "with liberty to file afresh", depending on the outcome of the intended appeal against the decision of the Kuala Lumpur High Court on Nov 14 in striking out a suit filed against Can-One by See, with costs.

See had in May commenced legal action against Can-One, its unit Can-One International Sdn Bhd, and four others including, KJCF, to prevent Can-One and Can-One International from voting on the sale of KJCF's assets and liabilities to Aspire Insight for RM1.47 billion, which was struck out by the court.

"The Court allowed the said withdrawal and accordingly, struck out the injunction application," said Can-One in a filing with Bursa Malaysia today, adding that the court had also awarded costs of RM5,000 each to Can-One, Can-One International and Kian Joo.