VELESTO

0.290

(%)

WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR MEMBERS' VOLUNTARY WINDING-UP OF UOT (THAILAND) LIMITED, A 51% OWNED SUBSIDIARY OF VELESTO OILPIPE SERVICES SDN BHD

VELESTO ENERGY BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
MEMBERS' VOLUNTARY WINDING-UP OF UOT (THAILAND) LIMITED, A 51% OWNED SUBSIDIARY OF VELESTO OILPIPE SERVICES SDN BHD

The Board of Directors of Velesto Energy Berhad (“VEB”) wishes to announce that UOT (Thailand) Limited (“UOT”), a 51% owned by Velesto Oilpipe Services Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB was dissolved on 21 April 2021 pursuant to the Section 1236(4) of the Thai Civil and Commercial Code.

 

The dissolution of UOT will not have material effect on the earnings or net assets of VEB for the financial year ending 31 December 2021.

 

None of the Directors and/or the substantial shareholders of VEB and/or persons connected with the Directors and/or substantial shareholders have any interest, direct or indirect in the said dissolution.

 

This announcement is dated 22 April 2021.






Announcement Info

Company Name VELESTO ENERGY BERHAD
Stock Name VELESTO
Date Announced 22 Apr 2021
Category General Announcement for PLC
Reference Number GA1-22042021-00027