10/25/24, 11:59 PM | General Announcement::UPDATE ON LITIGATION |
GENERAL ANNOUNCEMENT::UPDATE ON LITIGATION
Issuer & Securities
Issuer/ Manager
SUNRIGHT LIMITED
Securities
SUNRIGHT LTD - SG1B17008288 - S71
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
25-Oct-2024 23:57:28
Status
New
Announcement Sub Title
UPDATE ON LITIGATION
Announcement Reference
SG241025OTHRV7DQ
Submitted By (Co./ Ind. Name)
Christina Foong
Designation
Company Secretarial Executive
Effective Date and Time of the event
25/10/2024 23:57:00
Description (Please provide a detailed description of the event in the box below)
Please refer to the attachment.
Attachments
Sunright_Annt_Update_on_Litigation_20241025.pdf
Total size =101K MB
https://links.sgx.com/1.0.0/corporate-announcements/ZM1SK762LZEDA8NZ/140b466e3574c7fb6d982c2175bbb074a059b9f33597d3144fa608fb… 1/1
SUNRIGHT LIMITED
(CO. REGN NO. 197800523M)
1093 Lower Delta Road #02-01/08
Singapore 169204
Tel: (65) 62725842 Fax: (65) 62768426
ANNOUNCEMENT
UPDATE ON LITIGATION
The Board of Directors of Sunright Limited (the "Company") refers to the announcements made on 13 May 2019, 17 July 2019, 17 June 2020, 24 November 2020, 14 July 2023, 21 December 2023, 19 September 2024 and 11 October 2024 in relation to the Complaint filed by Weatherford International, LLC and Weatherford U.S. L.P. (together "Weatherford") in the District Court in Midland County, Texas ("Court") against KES (USA) Inc., a predecessor entity of the Company's wholly- owned subsidiary, KES Systems, Inc. (the "Case").
The Board wishes to update that following Weatherford's filing of the Notice of Nonsuit Without Prejudice on the claims asserted against all Defendants, which includes KES (USA) Inc., the Court had issued an Order of Nonsuit Without Prejudice to order that all claims against all Defendants are nonsuited without prejudice and that all parties shall bear their own costs and attorneys' fees.
Further announcements will be made as and when there are material developments relating to the Case.
By Order of the Board
Adeline Lim Kim Swan
Company Secretary
25 October 2024
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