News

Proposed Scheme Of Arrangement Between Prestariang Skin Sdn. Bhd. And Its Scheme Creditors Pursuant To Section 366 Of The Companies Act 2016

BackJan 17, 2024

 

Type Announcement
Subject OTHERS
Description AWANBIRU TECHNOLOGY BERHAD ("AWANTEC" OR "THE COMPANY") - PROPOSED SCHEME OF ARRANGEMENT BETWEEN PRESTARIANG SKIN SDN. BHD. AND ITS SCHEME CREDITORS PURSUANT TO SECTION 366 OF THE COMPANIES ACT 2016
We refer to our announcement dated 22 December 2023 in relation to the proposed scheme of arrangement between the Company’s subsidiary, Prestariang SKIN Sdn. Bhd. ("PSKIN") and its Scheme creditors.

The Company wishes to announce that PSKIN has filed a Notice of Application with the High Court of Malaysia (the "Court") on 16 January 2024 for an order sanctioning the scheme of arrangement (the "Scheme") between PSKIN and its Scheme creditors pursuant to Section 366 of the Companies Act 2016. The Notice of Application has been set for a case management on 31 January 2024.

PSKIN has held two (2) Court Convened Meetings on 22 December 2023, one (1) for each class of creditors. At the Court Convened Meetings, 100% of the Scheme creditors present and voting at each of the meetings voted in favour of the Scheme.

The Company will make the relevant update announcement(s) in relation to the Scheme as and when there are material developments on the same.

This announcement is dated 17 January 2024.

 

Announcement Info

Company Name AWANBIRU TECHNOLOGY BERHAD
Stock Name AWANTEC
Date Announced 17 Jan 2024
Category General Announcement for PLC
Reference Number GA1-17012024-00047