R&A TELECOMMUNICATION GRP BHD
KLSE (MYR): RA (0110)
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
francisscapegoat
2 posts
Posted by francisscapegoat > 2017-05-04 10:26 | Report Abuse
Francis Tan gone. Greedy staff and directors push him suicide. Only if he knows. Well done. The staff got nothing to loose, shareholders lost everything. Banks will got burried all together. All ex staff should expose francis and the culprits for cover up what they did. 30million is a lot of salary.
Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description R&A TELECOMMUNICATION GROUP BERHAD ("R&A" OR "THE COMPANY")
- ORDER UNDER SECTION 366 AND 368 OF THE COMPANIES ACT 2016
Further to the Company’s announcement made on 13 April 2017, the Board of Directors of R&A wishes to announce that the Company and R&A Telecommunications Sdn. Bhd. (“RASB”), the wholly-owned subsidiary of the Company has been advised by its solicitors on 2 May 2017 that the Sealed Restraining Order pursuant to Sections 366 and 368 of the Companies Act 2016 dated 11 April 2017 from the High Court of Malaya at Kuala Lumpur (Commercial Division) has been obtained, with the following orders:-
An order that a meeting of the creditors of RASB be convened to consider and if thought fit, approve a scheme of arrangement to be proposed between RASB and its creditors, which the meeting is to be summoned by giving notice of not less than twenty-one (21) days to the creditors concerned within a period of three (3) months from the date of the Order;
An order that a meeting of the creditors of R&A be convened to consider and if thought fit, approve a scheme of arrangement to be proposed between R&A and its creditors, which the meeting is to be summoned by giving notice of not less than twenty-one (21) days to the creditors concerned within a period of three (3) months from the date of the Order;
An order that a meeting of the shareholders of R&A be convened to consider and if thought fit, approve a scheme of arrangement to be proposed between the Company and its shareholders, which the meeting is to be summoned by giving notice of not less than twenty-one (21) days to the creditors concerned within a period of three (3) months from the date of the Order;
An order that any and all proceedings, claims, demands, execution and/or action against RASB, save and except for proceedings in Shah Alam High Court Originating Summons No. 24MFC-318-11/2015 (sealed Order for Execution No. BA-38-290-03/2016), whether pending or is proposed to be commenced, be restrained for a period of three (3) months from the date of the Order and no proceedings, claims, demands, execution and/or action can be commenced or proceeded with during such period without first obtaining the leave of this Honourable Court and subject to such terms as this Honourable Court may impose;
An order that any and all proceedings, claims, demands, execution and/or action against the Company, whether pending or is proposed to be commenced, be restrained for a period of three (3) months from the date of this order and no proceedings, claims, demands, execution and/or action can be commenced or proceeded with during such period without first obtaining the leave of this Honourable Court and subject to such terms as this Honourable Court may impose;
An order that the nomination of Mr. Lim Tiong Jin as a Director of the Company pursuant to Section 368(2)(d) of the Act; and
An order that the appointment of Mr. Lim Tiong Jin as a Director of RASB pursuant to Section 368(2)(d) of the Act.
The abovementioned orders are not expected to have any material impact on the financial and operational matters of the Company and RASB.
Further development on the above matter will be announced to Bursa Malaysia Securities Berhad in due course.
This announcement is dated 3 May 2017.