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Perisai Petroleum Teknologi Berhad ANNOUNCEMENT NEWS ON 09 August 2019

OTHERS PERISAI PETROLEUM TEKNOLOGI BHD ("PERISAI" OR "THE COMPANY") - RESTRAINING ORDER


Type Announcement
Subject OTHERS
Description PERISAI PETROLEUM TEKNOLOGI BHD ("PERISAI" OR "THE COMPANY") - RESTRAINING ORDER

Further to the Company's announcements dated 12 January 2017, 16 January 2017, 17 April 2017, 5 May 2017, 3 August 2017, 8 May 2018 and 8 August 2018 respectively in respect of the Restraining Order, the Board of Directors of Perisai wishes to announce that on 9 August 2019, the Company has obtained an extension to the Restraining Order under Section 368 of the Companies Act, 2016 from the High Court of Malaya at Kuala Lumpur for a period of nine (9) months effective from 9 August 2019 restraining, amongst others, all proceedings and/or further proceedings in any action or proceeding against the Company and/or its assets ("the Restraining Order").


The Restraining Order will not have any material effect on the earnings and net assets of Perisai Group for the financial year ending 30 June 2020.


The Restraining Order is to facilitate the Company's plan to regularise its financial conditions through a Proposed Scheme of Arrangement. 


On 5 April 2019, SJ Securities Sdn Bhd announced on behalf of the Board of Directors of Perisai that the Listing Committee of Bursa Malaysia Securities Berhad has decided to grant PERISAI an extension of time until 31 December 2019 to submit a new regularisation plan to the relevant authorities for approval.


This announcement is dated 9 August 2019.

 






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