4 stories mentioning SGX:PH0Updated 1h ago
Every FINWIRES story that references SGX:PH0, newest first.
Hatten Land's (SGX:PH0) judicial managers have filed an application with the Singapore high Court, seeking to discharge the real estate developer from judicial management, according to a Friday bourse filing.The court is yet to fix a hearing date, with proceedings requiring any objecting party to file an affidavit by June 26.
Hatten Land (SGX:PH0) received a whitewash waiver from the Securities Industry Council (SIC) in connection with its subsidiary, LBD Engineering's, proposed acquisition of Metrocon, according to a Wednesday filing with the Singapore Exchange.Under the waiver conditions, independent shareholders must approve a whitewash resolution at a general meeting before the issuance of shares.The company is also required to appoint an independent financial adviser to advise independent shareholders on the proposed resolution.
Hatten Land (SGX:PH0) secured approval from the creditors for its proposed scheme of arrangement, according to a Monday filing with the Singapore Exchange.The property developer secured 92.31% votes in favor of the scheme, with the judicial managers expected to apply to the Singapore High Court to sanction the scheme.
Hatten Land's (SGX:PH0) judicial managers proposed a pre-packaged scheme of arrangements with the company's creditors as part of a broader restructuring plan, according to a Thursday filing with the Singapore Exchange.The scheme is part of the financially distressed company's proposed acquisition of Metrocon from LBD Engineering for SG$28 million, which will be satisfied through the issuance of over 107.7 million shares.The acquisition-tied scheme is expected to provide creditors with a better recovery than liquidation, where recoveries are anticipated to be nil, the property developer said.Under the scheme, creditors would receive new shares proportional to their approved claims, the filing said.Both the scheme and the acquisition are inter-conditional and cannot proceed without each other, Hatten Land said.
