XST 0.00% 0.9¢ xstate resources limited

Comments Xstate Resources Limited (ASX: XST) (“Xstate” or “the...

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    Xstate Resources Limited (ASX: XST) (“Xstate” or “the Company”) provides the following update in
    relation to its Singapore High Court action against Tanzil Hidayat (“Tanzil”), Chloe Kwok Yun Qing and
    Hong Hung Thiam.
    Xstate is continuing to take and remains committed to taking all available legal steps to pursue the
    defendants for recovery of the judgment debt awarded in Xstate's favour.
    Xstate is aware of recent social media reports stating that Tanzil is an undischarged bankrupt dating
    from November 2013. Xstate was only recently made aware of this at about the time of Tanzil's
    Examination of Judgement Debtor (“EJD”) process.
    Xstate is investigating those various assertions in the social media and the motivation behind those
    reports. In regard to Tanzil, Xstate is continuing to make enquiries and will pursue all legal
    enforcement measures against Tanzil (and the other defendants) including in respect of their assets
    not only in Singapore but worldwide.
    Further, Xstate is exploring its possible rights of redress against those involved in the social media
    reports and their publication. This may include but is not limited to the commencement of
    defamation proceedings against the authors of the social media reports.
    The Company will keep the market fully informed of any further changes.
 
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