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Announcement

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN

  • Type
    Announcement
  • Subject
    PRACTICE NOTE 17 / GUIDANCE NOTE 3 REGULARISATION PLAN
  • Description
    PETROL ONE RESOURCES BERHAD ("COMPANY" OR "PETONE") - PROPOSED REGULARISATION PLAN

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcements dated 15 November 2013, 28 March 2014, 21 January 2015, 14 August 2015, 28 July 2016 and 16 March 2017.

Reference is made to the announcements dated 15 November 2013, 28 March 2014, 21 January 2015, 14 August 2015, 28 July 2016 and 16 March 2017 in relation to the Proposed Regularisation Plan.

On behalf of the Board, PIVB wishes to announce that after taking into consideration the consent judgement recorded by the Court of Appeal on 24 March 2016 in relation to the orders allowed by the High Court pursuant to an application made by one of the Scheme Creditors, namely Silverline Maritime Sdn Bhd (“SMSB”) on 8 May 2015 (“SMSB Consent Judgment”) and provisions such as the abolishment of par value regime and consequently the concept of authorised share capital under the Companies Act 2016 (“Act 2016”) (which had come into effect on 31 January 2017), the Proposed Regularisation Plan will be revised as disclosed in the attachement below.

This announcement is dated 27 July 2017.

Please refer attachment below.

Revised Proposed Regularisation Plan.pdf
80.5 kB

Announcement Info

  • Company Name
    PETROL ONE RESOURCES BERHAD
  • Stock Name
    PETONE
  • Date Announced
    27 Jul 2017
  • Category
    General Announcement for PLC
  • Reference Number
    GA1-24072017-00141

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