Statement re litigation
Published: 01/03/2005, 08:31
Hidong Estate PLC 01 March 2005 HIDONG ESTATE PLC Litigation For immediate release 1 March 2005 The board of Hidong Estate PLC ("HE " or the "Company") announces that it has been served with a Writ filed by Palamsel Holdings Sdn Bhd ("Palamsel") in the High Court of Malaya. Palamsel was negotiating with the Company for the sale of its palm oil plantation and has served a writ on the Company claiming specific performance - ie the sale of the plantation on certain terms which have not been agreed by the HE board. The Company's legal advisers have stated that this suit is "unsustainable and without merit". This information is provided by RNS The company news service from the London Stock Exchange