SINGAPORE - Hyflux has given creditors and stakeholders a two-week extension to file their proofs of claims ahead of scheme meetings as the water treatment firm undergoes debt restructuring.
The new deadline has now been pushed back to 5pm on March 1, from 5pm on Feb 15 previously, the company announced in a regulatory filing on Monday night (Feb 11).
Holders of the company's notes, perpetual securities and preference shares who do not file a proof will be deemed to have authorised the company to file a proof on their behalf, based on their holdings as recorded in the CDP (Central Depository), Hyflux said.
The company added that stakeholders can access the relevant proof forms at https://www.hyflux.com/financial-reorganisation-exercise/proof-of-claims
Queries on the proofs of claim process may also be sent to email@example.com or firstname.lastname@example.org, while the company's support hotline on +65 3157 7999 is open from Monday to Friday, 9am to 5pm (Singapore time).
Hyflux's call for proofs has caused quite a stir among holders of Hyflux securities, with some feeling lost and confused. Some were also angry with the timing of the news released during the Chinese New Year period, and that they had only two weeks to file their proofs with the old deadline.
Separately, Hyflux's group executive vice-president Cheong Aik Hock noted in a affidavit filed with the High Court on Feb 8 that the process of calling for proofs is intended to be "administratively efficient", and to allow the "restructuring agreement to be effected".
"I stress that the Hyflux Group has no intention whatsoever to hinder or prevent any of its stakeholders from voting on the scheme of arrangement to be proposed," Mr Cheong added.