Mayer Hold (HKG:1116) Issues Writ of Summons Against Make Sccess


Mayer Holdings (HKG:1116) announced that, on 12 January 2012, it issued a writ of summons in the Court of First Instance of the High Court of Hong Kong claiming against Make Success Limited for breach of the acquisition agreement dated 8 November 2010 and a supplemental agreement dated 31 March 2011 and misrepresentations made by Make Success pursuant to the Misrepresentation Ordinance.

Mayer claims against Make Success for the following relief: damages; rescission of the agreement; repayment of HK$100 million being made by Mayer to Make Success under the agreement; an injunction to restrain Make Success from disposing of or procuring any person to dispose of, dealing with, or diminishing the value of its assets, whether in its own name or not, and whether solely or jointly owned (in particular: (a) 236.364 million issued shares in Mayer; HK$90 million 5% convertible note issued by Mayer to Make Success on 9 May 2011; and (c) promissory note of HK$300 million issued by Mayer in favour of Make Success dated 9 May 2011); an account of profits (if any) derived by Make Success from the property and an order for payment of such profits; costs; interest; and/or further and/or other relief.

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