Resumption Proposal definition
Examples of Resumption Proposal in a sentence
As at the date of this announcement, the resumption conditions imposed by the Stock Exchange in respect of the Resumption Proposal as stated in the announcement of the Company dated 18 February 2015 are yet to be fulfilled and the terms of the Proposed Restructuring are still under review.
No further extensions of time will be granted for the Company to submit a Resumption Proposal.
As set out in the Company’s announcement dated 13 December 2017, by the LRC Decision Letter dated 12 December 2017, the Listing (Review) Committee decided to allow the Company to proceed with the Resumption Proposal and complete all the transactions and arrangements contemplated thereunder subject to certain conditions.
On 4 December 2014, the Investor and the Company entered into the Exclusivity Agreement pursuant to which the Investor has been granted the Exclusivity Period to formulate the Resumption Proposal and to negotiate with the Company in good faith for entering into the Restructuring Documents with a view to the Resumption.
The arrangement under the Resumption Proposal includes, among others, the Schemes, the Subscription, the disposal of certain equity interests of the Company’s subsidiaries and the Open Offer.
The Proposed Transactions will be subject to several Conditions, including but not limited to the Whitewash Waiver being granted by the SIC, the Resumption Proposal being approved by SGX- ST, and the Shareholders’ Approval.
The Company considers that the Resumption Proposal is a viable one and addressed the resumption conditions imposed by the Stock Exchange.
As stated in the announcement of the Company dated 19 December 2016, the Resumption Proposal as approved by the Listing Appeals Committee of the Stock Exchange involves, among others, the Open Offer, the Debt Capitalisation, debt settlement and release of all outstanding financial results.
During the Exclusivity Period, the parties shall use best endeavours to formulate the Resumption Proposal for the submission to the Stock Exchange with a view to the Resumption.
On 24 July 2017, the Company submitted the Resumption Proposal to the Stock Exchange, which includes, among other things, the Schemes, the Subscription, the disposal of certain equity interests of the Company’s subsidiaries and the Open Offer, to seek an in principle approval for the resumption of trading in the Shares on the Stock Exchange.