Based on 18 Dec 2023 announcement, Scable should have update on the creditor meeting after the internal meeting between white knight and Scable management, as they are expected to have creditor meeting after the internal meeting. Let see how, seems the update abit overdue now.
OTHERS SARAWAK CABLE BERHAD ("SCB" OR "COMPANY") PRESS RELEASE: WHITE KNIGHT FOR SARAWAK CABLE BERHAD SARAWAK CABLE BERHAD
Type Announcement Subject OTHERS Description SARAWAK CABLE BERHAD ("SCB" OR "COMPANY") PRESS RELEASE: WHITE KNIGHT FOR SARAWAK CABLE BERHAD Reference is made to the announcements made by the Company on 12 December 2023 and 14 December 2023 in relation to the press release dated 12 December 2023 entitled "WHITE KNIGHT FOR SARAWAK CABLE BERHAD".
The Company wishes to announce the following additional information:-
(a) Serendib Capital Limited ("Serendib Capital") has made an offer to resuscitate SCB via a mix of debt repayment and working capital injection. The pertinent terms of the offer is that Serendib Capital would assist SCB in the formulation of a comprehensive rescue plan and subsequent negotiations with SCB Group’s creditors and at the same time Serendib Capital will provide the funding requirement once finalised. Serendib Capital’s offer mandates a board representation and as such Mr Takeo Hirata has been appointed to the Board of SCB for that very purpose as stated herein.
(b) Serendib Capital’s mandate for board representation has already been effected with the appointment of Mr Takeo Hirata to SCB’s Board. Serendib Capital’s rescue plan will be to first formulate and negotiate a debt restructuring scheme with SCB Group’s creditors; meetings between Mr Takeo Hirata, representing the White Knight and Management of SCB are scheduled over the next 2 weeks. Thereafter the White Knight and SCB will jointly approach SCB Group’s creditors to agree on a debt restructuring scheme. Before such creditors' acquiesce is granted, no binding financial commitments can be made between the White Knight and SCB.
(c) The White Knight shall assist with the creation, negotiation and funding of a comprehensive debt restructuring scheme as well as providing working capital to fund future growth.
Go to sleep for 6 months. When you wake up, its 4 cents. Because it is a one big con. Sri Lanka country much worse than us trying to revive this company? Taib mahmud n son would hv injected capital into this company if can revive, no need Sri Lanka company. Common sense.
The Securities Commission Malaysia (SC) today ( date is unnotable) issued a warning to investors over the increase use of blogs, forums and social media platforms to spread false and misleading information on certain companies in order to perpetrate ‘pump and dump’ schemes. Perpetrators would accumulate shares at lower prices before posting positive sentiments about the companies, with the intention to spur interest in the shares in order to drive up its price. When unsuspecting investors buy the shares, it gives the perpetrators an opportunity to sell the shares they hold at a profit. Investors who have bought shares at the inflated price will suffer losses when the hype eases.
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....
B4b4
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