KUALA LUMPUR: Trading in VASTALUX ENERGY BHD [] shares was halted at 9am on Tuesday, Oct 12 and will resume at 10am after it announced a proposed debt revamp.
The company said on Tuesday, Oct 12 the debt revamp involves settlement of amounts owing to unsecured'' creditors comprising inter-company creditors and unsecured creditors comprising trade and non-trade creditors.
The plan only involves these scheme creditors of Vastalux, representing 74.65% of the total debts as at Dec 31, 2009. The amount owed totalled RM174.4 million.
Vastalux proposed the amount owing to unsecured scheme creditors Class 1 amounting to RM50.29 million be waived.
It also proposed the unsecured scheme creditors Class 2, on the RM124.11 million owed, be settled via the issuance of redeemable cumulative unsecured loan stocks.
The company said on Tuesday, Oct 12 the debt revamp involves settlement of amounts owing to unsecured'' creditors comprising inter-company creditors and unsecured creditors comprising trade and non-trade creditors.
The plan only involves these scheme creditors of Vastalux, representing 74.65% of the total debts as at Dec 31, 2009. The amount owed totalled RM174.4 million.
Vastalux proposed the amount owing to unsecured scheme creditors Class 1 amounting to RM50.29 million be waived.
It also proposed the unsecured scheme creditors Class 2, on the RM124.11 million owed, be settled via the issuance of redeemable cumulative unsecured loan stocks.
No comments:
Post a Comment