Thu, Oct 26, 2017 – 7:58 AM
JAYA Holdings on Thursday said it is seeking voluntarily liquidation, with the remaining cash to be distributed to shareholders.
The company has submitted a proposal on the proposed voluntary liquidation to the Singapore Exchange (SGX). It will be convening an extraordinary general meeting to approve the proposal, and the appointment of a liquidator.
As at June 30, 2017, Jaya had net cash of S$1.51 million.
The company came to this proposal after the SGX deemed that its previously targeted company was a cash company with no underlying business. Jaya added that there “no other feasible exit strategy” immediately available to the company, which is in a net cash position. The SGX had rejected a proposed reve…
Read the full article at: http://www.businesstimes.com.sg/companies-markets/jaya-heads-for-voluntarily-liquidation-as-options-run-out