News

(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as defined in the Company’s announcements dated 5 August 2022, 9 August 2022, 5 September 2022, 14 October 2022, 19 December 2022, 31 January 2023, 22 December 2023, 9 January 2024 and 6 December 2024 except where the context otherwise defined herein)

Further to the Company’s announcements made on 5 August 2022, 9 August 2022, 5 September 2022, 14 October 2022, 19 December 2022, 31 January 2023, 22 December 2023,  9 January 2024 and 6 December 2024, the Board of Directors wishes to inform that LFM has on 16 December 2024 filed an application for leave to institute judicial review proceeding against the CAT Decision on Stay and seek an ad interim stay order in relation to the MyCC’s Decision requiring payment of the financial penalty. The High Court has fixed the hearing for LFM’s leave application on 2 January 2025.

On 19 December 2024, LFM received (a) an unsealed originating summons dated 18 December 2024; and (b) an affidavit in support from MyCC’s solicitors to enforce MyCC’s Decision under Section 42 of the Act. LFM will seek consultation from its external legal counsels on the necessary and appropriate actions to challenge the proceedings initiated by MyCC.

Further announcement will be made as and when there is material development on the above matter.

This announcement is dated 20 December 2024.