Page Industries Faces UAE Lawsuit of AED 113.5 Million
Page Industries Limited is facing a lawsuit in Dubai filed by Yellow Flower Trading LLC for AED 113.5 million plus interest. The dispute concerns their UAE distribution arrangement. The company, after preliminary assessment, believes the claims are without merit and intends to contest them vigorously.
The lawsuit involves a considerable amount and could potentially impact the company's finances and operations if not resolved favorably.
The company is facing a significant lawsuit with a substantial claim amount, which is a negative development.
Page Industries Limited has been served with a legal notice from the Dubai Court concerning a claim initiated by Yellow Flower Trading LLC (YFT), Dubai. The dispute arises from issues related to the parties' distribution arrangement in the UAE. The claim amount specified in the notice is AED 113,548,160.81, plus interest at 9% per annum from October 10, 2025. The company is currently consulting with its legal counsel to review the notice and is preparing to contest the claims. Page Industries believes the claims lack merit and intends to defend its position vigorously. This matter is in its early stages, and the company will provide further updates as material developments occur.
A plain-language summary of a public exchange filing by Page Industries Limited. Read the original for the full detail.