Announcement Details/Table Section :
Reference is made to the Company's announcements dated 27 June 2012, 5 September 2012 and 22 October 2012.
The Board of Directors of the Company ("Board") wishes to announce that the High Court of Malaya in Kuala Lumpur ("High Court") had on 7 January 2013 granted an extension of time until 28 February 2013, for each of the companies to convene a separate meeting of the scheme creditors ("Court Convened Meeting") of the Company, Polymer Composite Asia Sdn. Bhd. ("PCA") and Hexagon Distributors Sdn. Bhd. ("HDSB"), with each of their respective creditors ("Scheme Creditors"), for the purpose of considering and if thought fit approving, with or without modifications, the schemes of arrangement ("Proposed Corporate Debt Restructuring Schemes") proposed between each of the Company, PCA, HDSB, and their respective Scheme Creditors ("Order").
The Board also wishes to advise that pursuant to the Order, the Company is in the midst of finalising the scheme papers in form to be set out in an explanatory statement ("Scheme Papers") with its appointed advisers and the details of the Proposed Corporate Debt Restructuring Schemes and despatch of the Scheme Papers will be announced in due course.
This announcement is dated 10 January 2013.
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