{
  "id": 9525863,
  "title": "Nominee intervention halts consent judgment in Zetrix AI dividend dispute",
  "url": "https://urgent.news/2026/09/24/nominee-intervention-halts-consent-judgment-in-zetrix-ai-dividend",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T08:28:49.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1540195/nominee-intervention-halts-consent-judgment-zetrix-ai-dividend"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: The contentious legal battle surrounding Zetrix AI Bhd's dividend distribution intensified as the two nominees representing a major shareholder were officially authorized by the High Court to interject in the lawsuit between the shareholder and the company's share registrar, according to the company's latest announcement. This development halted a proposed consent judgment that the board intended to direct to the Share Registrar regarding the substantial shareholder, according to Zetrix AI.\n\nThe ongoing dispute has led to computation discrepancies in the designated dividend accounts, causing delays in the remittance of dividend payments to shareholders, as reported by Zetrix AI. The company clarified that the dividend payments to the affected shareholders will be processed once the legal proceedings are finalized, and noted that remittances to unaffected shareholders are ongoing and anticipated to conclude by September 28.\n\nThe controversy revolves around Zetrix AI's single-tier dividend of 2.89 sen per share for the fiscal year concluding December 31, 2025, which offered an optional Dividend Reinvestment Plan (DRP). The unidentified substantial shareholder, identified as the beneficial owner of certain Central Depository System (CDS) accounts, argued that the nominees managing these accounts failed to comply with their instructions to opt for additional shares rather than cash. In response, the shareholder obtained an interim injunction from the Kuala Lumpur High Court, prompting Zetrix AI's board to direct the share registrar to enter a consent judgment with the shareholder. However, the legal situation changed when the nominees officially entered the legal proceedings. The High Court is set to hear the nominees' intervention and assess the ongoing litigation on November 11.",
  "summary": "KUALA LUMPUR: The ongoing legal tangle over the dividend payout of Zetrix AI Bhd has escalated, with the two nominees of an unnamed substantial shareholder being officially granted permission by the High Court to intervene in a lawsuit between the substantial shareholder and the company’s share registrar.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}