Unless otherwise stated, all terms and definitions used herein shall retain the same meaning as those defined in the previous announcement dated 25 October 2024. 

We refer to the announcement dated 25 October 2024 in relation to the dispute over the alleged breach of contract and infringement of intellectual property rights with NOD.

The Board of Directors of OB Holdings (“Board”) wishes to announce that Orient Biotech Sdn. Bhd., a wholly-owned subsidiary of the Company, had on 4 March 2025 received a letter from the solicitors acting for NOD accompanied by a sealed Writ of Summons and a Statement of Claim, both dated 28 February 2025 and issued by the Supreme Court of Victoria, Melbourne, Australia (“Court”). The aforementioned Statement of Claim was incomplete and subsequently, the Writ of Summons and revised Statement of Claim, both dated 28 February 2025 were received on 5 March 2025.

 Pursuant to the Statement of Claim, NOD has claimed the following:-

i. damages;

ii. at NOD’s election, an account of profits or equitable compensation;

iii. interest pursuant to s101 of the Supreme Court Act 1986; and

iv. such other order(s) as to the Court seems appropriate.   

As at the date of this announcement, the Board would not be able to ascertain the financial and operational impacts as well as the potential liabilities arising from the Writ of Summons and Statement of Claim as no specific amount demanded was stated therein.

The Company will defend NOD’s claim on the basis that their claims of loss of sales and loss of reputation are not attributable to the Company as the Relevant Product is different from NOD’s products.  

The Company will engage solicitors in Melbourne, Victoria, to file an appearance in defence of the proceeding and will make further announcements in the event of any material developments regarding this matter.

This announcement is dated 5 March 2025.