Autoline Industries Limited — Others, 20-11-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

CJ Holdings North America, LLC has filed a complaint against Autoline Industries in the Oakland County Circuit Court, Michigan. This comes after a settlement agreement from April 2017, in which the company agreed to a total claim of USD 1,700,000, with USD 1,230,000 already paid following RBI approval. An outstanding amount of USD 470,000 remains. While the company has accounted for the entire settlement in its books, the plaintiff seeks USD 1,527,617, including interests and attorney fees. This development may introduce potential risks regarding cash flow and shareholder sentiment, given the ongoing litigation.