KUALA LUMPUR: Kian Joo Can Factory Bhd (KJCF) executive director Datuk Anthony See Teow Guan has applied to withdraw his application for an injunction to stop KJCF from holding an extraordinary general meeting to vote on a RM1.47 billion deal with Aspire Insight Sdn Bhd.

Can-One Bhd said in a filing with Bursa Malaysia yesterday that See’s counsel had, during case management on the same day, applied to withdraw his application for an injunction “with liberty to file afresh”, depending on the outcome of the intended appeal against the decision of the Kuala Lumpur High Court on Nov 14 in striking out a suit filed against Can-One by See, with costs.

In May, See commenced legal action against Can-One, its unit Can-One International Sdn Bhd, and four others including, KJCF, to prevent Can-One and Can-One International from voting on the sale of KJCF’s assets and liabilities to Aspire Insight for RM1.47 billion, which was struck out by the court.

He then served an application for an injunction against KJCF and five others in June in relation to Aspire Insight’s acquisition offer.

“The Court allowed the said withdrawal and accordingly, struck out the injunction application,” said Can-One, adding

that the court had also awarded costs of RM5,000 each to Can-One, Can-One International and Kian Joo.

This article first appeared in The Edge Financial Daily, on November 28, 2014.