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MULTIPLE PROPOSALS SCOMI GROUP BHD ("SGB" OR "THE COMPANY") (I) PROPOSED SHARE CAPITAL REDUCTION; (II) PROPOSED SHARE CONSOLIDATION; (III) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS; (IV) PROPOSED RESTRICTED ISSUE; AND (V) PROPOSED LIABILITIES SETTLEMENT.

Amended Announcements
Please refer to the earlier announcement reference number: GA1-18022020-00034

SCOMI GROUP BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
SCOMI GROUP BHD ("SGB" OR "THE COMPANY")

(I)	PROPOSED SHARE CAPITAL REDUCTION;
(II)	PROPOSED SHARE CONSOLIDATION;
(III)	PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS;
(IV)	PROPOSED RESTRICTED ISSUE; AND
(V)	PROPOSED LIABILITIES SETTLEMENT.

(Unless otherwise defined, the abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Company’s announcements dated 27 May 2019, 30 May 2019, 18 July 2019, 9 August 2019, 20 August 2019, 3 December 2019, 20 December 2019, 30 December 2019, 21 January 2020 , 11 February 2020 and 13 February 2020 in relation to the Proposals).

 

Reference is made to the Company’s announcements dated 13 February 2020 in relation to the following:

  1. Suit No. WA-22NCC-74-02/20 Scomi Group Bhd v Gelombang Global Sdn Bhd (“GGSB”) & Malaysian Trustee Berhad (“MTB”)) (“Suit 74”); and
  2. Suit No. WA-22NCC-75-02/20 Scomi Group Bhd v Tan Sri Nik Awang @ Wan Azmi bin Wan Hamzah (“TSWA”) & MTB (“Suit 75”).

 

The Company wishes to announce that pursuant to the inter partes hearing on 20 February 2020, the High Court of Malaya at Kuala Lumpur has on 21 February 2020 disallowed the applications announced by the Company on 13 February 2020 with costs.

 

The matter has been fixed for case management on 30 March 2020.

 

The Company is seeking legal advice on its next course of action and will announce further developments in due course.

 

This announcement is dated 21 February 2020.

 

(Remark : The amendment is to reflect the correct Suit No. WA-22NCC-75-02/20 Scomi Group Bhd v TSWA & MTB).






Announcement Info

Company Name SCOMI GROUP BERHAD
Stock Name SCOMI
Date Announced 21 Feb 2020
Category General Announcement for PLC
Reference Number GA1-21022020-00044