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Reference is made to the announcement dated 24 October 2016. The Board of Directors of Century is pleased to announce that CTL has reached an amicable settlement with Nestle Products Sdn. Bhd., Nestle Manufacturing (Malaysia) Sdn. Bhd., Nestle Asean (Malaysia) Sdn. Bhd. and Cereal Partners (Malaysia) Sdn. Bhd. in respect of the on-going court proceedings on the following terms:
1. The parties have withdrawn their respective claims filed in the courts against each other with no order as to cost and without liberty to file afresh; and
2. Without admission to any liability by either parties, CTL will pay Nestle Products Sdn. Bhd. the sum of RM2.25 million as full and final settlement of all claims.
This announcement is dated 11 November 2016.
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