Wednesday, July 14, 2010

SC rejects WWE restructuring plan

KUALA LUMPUR: WWE HOLDINGS BHD [] failed to get its proposed restructuring scheme approved'' by the Securities Commission due to non-compliance with the Equity Guidelines.

"The board will consider options available to WWE, including an appeal to the SC, and will make an announcement on this matter in due course," it said on Wednesday, July 14.

Under the SC Equity Guidelines, under paragraphs 7.03(a), the assets to be acquired must comply with the profit requirements while 7.05(b) states the assets to be injected must have a healthy financial position.

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