SINGAPORE (THE BUSINESS TIMES) - Hyflux's judicial managers will hold a virtual townhall meeting on Jan 14 at 6pm for holders of the embattled water treatment firm's perpetual securities, preference shares and medium-term notes (MTN).

In a bourse filing on Tuesday (Jan 5), the judicial managers from Borrelli Walsh noted that those interested to join the meeting must register by Jan 11, 6pm, at this website. They will then receive an e-mail by Jan 13, enabling access to the meeting.

In addition, holders of Hyflux's perpetual securities and preference shares can e-mail their queries to hyfluxholders@borrelliwalsh.com, while MTN holders who have queries that they wish to be addressed during the townhall meeting can send these to hyfluxnotes@borrelliwalsh.com. The deadline to do so is Jan 8, 6pm.

According to the judicial managers, the timing and amount of any recovery for the holders are, at this stage, "uncertain" and influenced by several factors, including the outcome of the investor process that is under way, the terms of any proposed restructuring agreement, and the successful execution of any proposed restructuring agreement.

They added that an update of the investor search and restructuring process will be provided during the meeting.

Fourteen potential investors are now undertaking inquiries in respect of an investment in Hyflux, the judicial managers said.

Going by the estimated timeline for the first stage of the investor search process, potential investors are to submit non-binding offers to the judicial managers by Jan 31. Shortlisted investors will then be issued a notice around Feb 14 inviting them to participate in the second stage of the investor-bidding process.

Last week, Bloomberg reported that Hyflux now has only about $21.5 million in cash, with the amount enough to last at least 10 months, according to a person familiar with the matter.

The news also means that this is at least the second year in which liquidity at the water treatment company has more than halved, Bloomberg said.