Yujin International Ltd Proposed Scheme of Restructuring (1126S)
March 15 2016 - 3:45AM
UK Regulatory
TIDMYUJ
RNS Number : 1126S
Yujin International Ltd
15 March 2016
15 March 2016
yujin international ltd.
( the "Company")
COURT APPROVAL OF Proposed SCHEME to restructure the
business
of YUJIN INTERNATIONAL LTD and its subsidiaries
The Company wishes to announce that the High Court of the
Republic of Singapore (the "Court") has on 14 March 2016,
sanctioned the proposed scheme (the "Scheme") to restructure the
business of the Company and its subsidiaries and the Court's
approval to convene said meeting pursuant to Section 210 (3) of the
Companies Act, Cap 50 (the "Act"). Accordingly, the Company will
lodge the Order of Court with the Accounting and Corporate
Regulatory Authority of Singapore ("ACRA") which will, upon such
lodgement take effect and be binding upon all members of the
Company.
Under the Scheme, a distribution in specie of YHolding Shares is
to be made to entitled shareholders. Such distribution can only
take place after its lodgment with ACRA. The Company will therefore
announce the distribution of YHolding Shares as appropriate in due
course.
Following the distribution and the completion of the Scheme, in
accordance with the AIM Rules, the Company will be categorised as
an AIM Rule 15 cash shell, and as a consequence of which, the
Company will be required to make an acquisition or acquisitions
which constitute a reverse takeover under AIM Rule 14 within six
months of becoming an AIM Rule 15 cash shell.
The Company will continue to provide such updates as and when
necessary.
BY ORDER OF THE BOARD
For further information please contact:
Yujin International Ltd. Tel: 00 (65) 6226 2963
Keen Whye LEE
Or visit www.yujininternational.com
Cantor Fitzgerald Europe
Rick Thompson / David Foreman / Michael Reynolds Tel: 020 7894 7000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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March 15, 2016 04:45 ET (08:45 GMT)
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