October 9, Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

October 9, 2020

Representative: Nobuyoshi Fujisawa, Managing Director, CEO
Contact: Nobiru Adachi, Director
Telephone: +65-6535-5152

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)”. Please refer to the attachment.

October 9, 2020
J Trust Co., Ltd.
Securities code: 8508

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd. (hereinafter, “the Company”) announces its acknowledgement for the current situation regarding the litigation between the Company and Group Lease PCL (hereinafter, “GL”). Our view on the future direction has already been released in our previous releases. The Company would like to make further announcement on the subsequent events as follows.

When the Company announced in its “Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)”, dated 18 September, 2020, regards GL released its public announcement through Thai Stock Exchange that GL filed a civil lawsuit against the Company, together with three other defendants in Thai court. However, we would like to notify that the Thai court summons and the copy of the complaint sent to the Company was not legally align with the Code of Civil Procedure in Japan. According to the documents received, the summary are as follows:

1. Details of the Lawsuit:

(1) Court: Civil Court in Thailand

(2) Date of filing: 11 September, 2020 (as per the date stated on the complaint) – the Company requested for confirmation from its local attorney on whether the Lawsuit had been actually filed with Court. The attorney, thereafter, reports that the Lawsuit has been filed with the Court in Thailand. Accordingly, the Company makes its announcement herein.

(3) Cause: GL alleges that the Company and the other defendants jointly committed wrongful acts against GL by pursuing legal proceedings against GL and Group Lease Holdings Pte Ltd, which is fully owned subsidiary of GL.

2. Summary of the Plaintiff in the Lawsuit:

(1) Name Group Lease Public Company Limited
(2) Address Bangkok, Kingdom of Thailand
(3) Name/Title of the Representatives Mr. Tatsuya Konoshita, Authorised Director
Mr. Muneo Tashiro, Authorised Director
Mr. Alain Jean Pascal Dufes, Authorised Director

3. Details of relief sought and the amount in controversy:

(1) Relief sought: request the Company and the other defendants to discontinue with the alleged wrongful acts

(2) Amount sought: GL is likely to seek its compensation for the damages suffered as a result of legal proceedings in the amount of 9,130 million baht (approximately 30.4 billion yen) – the exchange rate from baht to yen is based on the rate as at 30 September, 2020 (1 Thai baht = 3.34 yen)

We will make further disclosure as soon as any further development occurs.




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