We refer the Company’s previous announcement dated 6 May 2020 (“Announcement”). Unless otherwise defined in this announcement, the terms used herein shall have the same meaning as defined in the Announcement. 

The Company wishes to announce that on 19 June 2020, the Liquidator has submitted an application to the High Court of Malaya at Kuala Lumpur under Section 479(2)(c), 479(4) of the Companies Act 2016 and Rule 142(3) of the Companies (Winding-Up) Rules 1972, Section 487(3) of the Companies Act 2016 and/or Section 582 of the Companies Act 2016 and Paragraph 1(a), Part II, Twelfth Schedule of the Companies Act 2016 for the following orders:

1.     That the Asset Sale Agreement entered into between the Company, Pacific Petcare Sdn. Bhd. (as purchaser) and Mamee-Double Decker (M) Sdn. Bhd. (as guarantor) dated 6 May 2020 involving the following assets is validated:

i)     seven (7) parcels of freehold industrial land together with   buildings erected thereon held under GRN 136983 Lot No. 111737, GRN 136984 Lot No. 111738, GRN 136985 Lot No. 111739, GRN 136986 Lot No. 111740, GRN 136987 Lot No. 111741, GRN 136988 Lot No. 111742 and GRN 136989 Lot No. 111743, all in Mukim of Plentong, District of Johor Bahru, State of Johor (collectively referred to as the “Land & Buildings”);

ii)  plant & machinery located within the premises of the Land & Buildings (“Plant & Machinery”); and

iii) intellectual property rights comprising certain trademarks and all goodwill associated with such trademarks (“Intellectual Property Rights”)

(collectively the “Certain Assets and Businesses”);

2.    That the Liquidator be remunerated based on the scale fees set out in Second Schedule, Table C of the Companies (Winding-Up) Rules, 1972 from the assets and businesses of the Company;

3.    That authority be given to the Liquidator to continue carrying on the business of the Company for another 180 days beginning from 12 July 2020;

4.     That the costs of this application be paid out of the assets of the Company herein;

5.      That the Liquidator is at liberty to apply for any such directions and/or orders from this Honourable Court arising from and in connection with the exercise of the powers and the performance of the functions and/or duties of the Liquidator; and/or

6.      Such other orders and reliefs as deemed fit and just by this Honourable Court.

The Company will make the necessary announcement to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof.

This announcement is dated 19 June 2020.