https://links.sgx.com/1.0.0/corporate-announcements/CHZ5L5R3LI9KO2AC/9eb4c0dbc56b6620a74d1f3b989729b27de6e81db942b2038f0d7dab9f288596
UPDATES ON REORGANISATION PROCESS – CLARIFICATION ON STATEMENTS MADE IN THE
MEDIA
Clarification
The Articles report that Utico had, in a statement released on 27 August 2019, said that it had "signed
and released" a restructuring agreement with the Company on 26 August 2019 which will give it 88 per
cent of the Company.
The Company wishes to clarify that the Definitive Agreement has not been entered into by both parties,
pending resolution on certain final outstanding issues in the draft Definitive Agreement.
The Company and Utico are however in highly advanced discussions and will continue to engage with
each other with a view to resolving such final outstanding issues and finalising and entering into the
Definitive Agreement as soon as possible.
All stakeholders are urged to rely on information provided by the Company in its announcements
through SGXNet or other media which are made in accordance with the applicable rules and
regulations. In this regard, the Company will make the appropriate announcements as and when there
are any further material developments on the matters above.