SGX RegCo rejects Innopac's bid to extend AGM deadline

-

THE Singapore Exchange Regulation (SGX RegCo) has rejected Innopac Holdings' request for a two-month extension to report its financial results and hold its annual general meeting (AGM) for FY2019 ended June.

In a bourse filing on Saturday, Innopac said that it was notified of the rejection in a letter from SGX RegCo dated Sept 23. The company had up till Aug 31 to release its financial results and up to Oct 31 to hold its AGM.

Innopac had earlier received a notice of delisting from SGX on June 4 for failing to meet criteria to exit the bourse's watchlist. The mainboard-listed company has since said that all of its finance and administrative staff, including its financial controller, have left the company after the delisting notice.

Innopac, which has been named in ongoing court proceedings over the 2013 penny stock crash, is still seeking funds to engage external services to prepare its unaudited interim financial results for FY2019.

"Nevertheless, the company is currently working on the release of the interim results and holding the AGM for FY2019 as soon as possible," Innopac said in its filing.

Innopac shares last traded at S$0.002 before the counter was suspended in June 2018.

Sharanya Pillai
07 October 2019

Comments

Post a Comment

Popular posts from this blog

Two ex-UOBKH staff charged with lying to MAS over due diligence reports on a Catalist aspirant

-
TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant.   Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange.   MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs).   During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issue manager
Read more