Brief: Asiatic Group (Holdings) Updates On Restructuring Framework Deal & Receipt Of Letter Of Demand

Asiatic (Holdings)

13/07/2022 16:02

July 13 (Reuters) - Asiatic Group (Holdings) Ltd  ATIC.SI :
    * UPDATE ON RESTRUCTURING FRAMEWORK AGREEMENT & RECEIPT OF
LETTER
OF DEMAND
    * CO IS SEEKING STAY OF LEGAL ACTION AGAINST RELEVANT
PARTIES
WITHIN GROUP
    * LECCA'S SUBMISSION OF A DEBT RESTRUCTURING PROPOSAL TO
MAYBANK
ISLAMIC BERHAD HAS BEEN REJECTED ON 6 JULY
    * RESTRUCTURING PROPOSAL REJECTED FOR FAILING TO COMPLY WITH
FOLLOWING TERMS AND CONDITIONS IMPOSED BY FINANCIERS
    * AS REPAYMENT AMOUNT IS SUBSTANTIAL AND MAY HAVE MATERIAL
IMPACT
ON GOING CONCERN OF COMPANY, INVESTOR, AMONG OTHERS
    * LECCA HAS SUBMITTED A REVISED COUNTER PROPOSAL TO
FINANCIERS ON
8 JULY

Source text for Eikon:  ID:nSN49wWn7 
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