SGX rejects most of Triyards' applications

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - Triyards Holdings said over the weekend that the Singapore Exchange Securities has rejected the company's application for further extension of time to hold the annual general meeting for the financial year ended Aug 31, 2017, by Feb 28, 2019.

This was one of several things conveyed in a letter that the shipyard arm of Ezra Holdings, received from SGX last Friday (Oct 12).

SGX has also rejected Triyards' request for waiver of the requirements to release its results for each of the first, second and third quarters of FY2018. Also turned down was the company's request for an eight-month extension of time to release its results for the year ended Aug 31, 2018 (FY2018) by June 30, 2019.

Triyards had also applied for more time to submit a trading resumption proposal by Jan 5, 2019. On this, SGX said that it has no objection to the application, under Listing Rule 1304. However, this will be subject to the company announcing the extension granted, the reasons for seeking the extension, the conditions as required under Mainboard Listing Rule 107; and if the conditions have been satisfied. If the conditions have not been met on the date of the announcement, the company must make an update announcement when the conditions have all been met.

Triyards said: "For the reasons disclosed in the company's application for extension of time to submit the trading resumption proposal, the contents of which are confidential, the company requires more time to prepare the resumption proposal."

Trading of Triyards shares have been suspended since September 2017 about six months after Ezra, an erstwhile stock market darling, filed for US Chapter 11 bankruptcy.