CATALIST-LISTED Libra Group has applied for an extension of time till Dec 15, 2020, to comply with Listing Rule 1304 on the resumption of trading, it announced on Friday after the market close. Read more at The Business Times.
CATALIST-LISTED Libra Group has applied for an extension of time till Dec 15, 2020, to comply with Listing Rule 1304 on the resumption of trading, it announced on Friday after the market close.
The application was made on Aug 27, after the High Court of Singapore on Aug 21 extended the company's moratoria to Oct 30, 2020. Libra Group is conducting a restructuring exercise of its current debts under its wider restructuring and strategic review plans, which may include the introduction of strategic investors, the inclusion of a new viable business undertaking and/or fund raising for its working-capital requirements.
Libra Group reported developments in its debt restructuring and fund raising efforts: In debt restructuring, it is working with advisors to propose a scheme of arrangement to its creditors under Section 210 of the Companies Act. In fund raising, it has entered into a couple of non-binding memoranda of understanding with different investors.
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