AF Global's Scheme Meeting Pushed Back Following Key Business Update

MT Newswires

Feb 04

AF Global (SGX:L38) said the scheme meeting for the proposed acquisition of its shares by AFG Investment was postponed by the General Division of the High Court of the Republic of Singapore, according to a Wednesday filing with the Singapore Exchange.

The meeting, originally scheduled for Feb. 5, was postponed following material updates on the company's joint venture in Xuzhou Yinjian LumChang, which is undergoing compulsory liquidation in China, the filing said.

In a previous filing, AF Global said it reached a settlement with its JV partner to conclude the dispute, including transferring its 55% stake in Xuzhou Yinjian LumChang for RMB142 million in cash and assets.

The court has directed that the postponed scheme meeting be held by March 10 or a later date approved by the court.

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