16 Oct 2023
RAJU K.RAMASAMY WONG LI YUIN
- Citation
- BA-22NCC-67-05/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-22NCC-67-05/2020 (Mahkamah Tinggi)
Court found on balance of probabilities that an oral buy-back agreement existed (late 2011) but the parties did not unambiguously agree NAV as the valuation method; the operative cessation date of directorship is 13.03.2019; in absence of an agreed valuation method the court must fix a reasonable price; unopposed expert valuation by Augustine James applying an asset/net tangible asset (NAV) approach was not shown to be obviously indefensible and is accepted; shares valued at RM0.19 per share as at 13.03.2019; specific performance ordered for plaintiff to buy back 120,000 shares at RM0.19 per…