Hyflux gets more time for AGM, financial results

Troubled water treatment firm Hyflux has been handed further deadline extensions by the Singapore Exchange to announce financial results and hold its annual general meeting (AGM).

The deadline for announcing its 2018 full-year numbers was extended by a further five months while its AGM can be put back three more months.

Extensions of 31/2 months were also granted for the release of Hyflux's first-and second-quarter results for this year.

Its three financial statements and the AGM must be announced and concluded by Nov 30 or before the lifting of the trading suspension, Hyflux said yesterday.

The High Court granted Hyflux a six-month moratorium earlier this month to stave off creditors and find suitable financing.

The firm said it is negotiating the terms of the reorganisation with potential investors and stakeholders under the court-supervised process with the moratorium in place.

Potential white knight Utico had extended a deadline for both parties to enter a binding agreement to June 27, after the previous deadline of June 17 expired.

Utico has also requested that if a binding arrangement is reached in that period, a town hall for perpetual securities and preference shareholders should be arranged for the week of July 7.

Hyflux has yet to announce a conclusion to the potential agreement.

A version of this article appeared in the print edition of The Straits Times on June 29, 2019, with the headline 'Hyflux gets more time for AGM, financial results'. Print Edition | Subscribe