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Novatti Group Limited (ASX:NOV)

ALERT: Price-sensitive ASX Announcement for NOV
Current share price for NOV : $0.015 -0.011 (-42.31%)+
Announcement
Release
20 Feb 2026 7:17PM
Price at Release
$0.026
Full Release
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Summary
Novatti Group Limited announced that it has been served a Writ of Summons in the Kuala Lumpur High Court of Malaya by the selling shareholders of ATX Fintech Holding SB Malaysia (ATX) regarding disputes over the payment and timing of deferred and earn-out consideration linked to ATX's financial performance post-acquisition. The sellers are claiming approximately RMY7.38 million (around AUD2.67 million) plus interest and costs. Novatti has made a provision for this in their accounts but disputes the claim and intends to defend against it. Despite this legal issue, ATX's financial performance has improved during FY25 and FY26.
Key Points
  • Novatti Group Limited has been served a Writ of Summons by ATX sellers.
  • The dispute is over payment and timing of deferred and earn-out consideration.
  • The claim is for approximately RMY7.38 million plus interest and costs.
  • Provision for the claim exists in Novatti's accounts, but it is disputed.
  • ATX's financial performance has improved during FY25 and FY26.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.