Innopac Holdings seeks 2-month extension to hold AGM, citing police probe

SINGAPORE - The board of of Innopac Holdings has submitted an application to the Singapore Exchange seeking a two-month extension for the company to hold its annual general meeting (AGM) for its year ended Dec 31.

The reason for the application is that Innopac has been requested by the Commercial Affairs Department of Singapore (CAD) to assist with investigations in relation to offences under the Securities and Futures Act.

It said the CAD had seized computers, data storage devices, files and financial records of the group and company.

It added that most of the information and data required for the preparation of the group's audit report for the financial year are with the CAD.

It has since obtained copies of the documents from the CAD for the purpose of preparing its audit report and annual report for 2013.

"Such a process will inevitably cause a delay in completing the audit report and annual report of the group," said Innopac.

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