OTHERS IreTex Corporation Berhad ("IRETEX" or the "Company") Clarification on: 1) Interest Payment for Irredeemable Convertible Unsecured Loan Stocks 2014/ 2019 ("ICULS") 2)15th Annual General Meeting

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
IreTex Corporation Berhad ("IRETEX" or the "Company")  Clarification on: 
1) Interest Payment for Irredeemable Convertible Unsecured Loan Stocks 2014/ 2019 ("ICULS")  
2)15th Annual General Meeting

Reference is made to the Company's announcement dated 13 June 2017 in relation to ICULS.

IRETEX wishes announce that the Company was required to pay the ICULS's interest for the period of 11 June 2016 to 10 June 2017 by 10 June 2017 ("the Deadline"). However, the Company has failed to make the payment within the Deadline due to operational issues which has landed the Company in a difficult situation.

Subsequently, on 13 June 2017, the Company announced that the payment will be made on 10 July 2017.

According to the Trust Deed governing the ICULS, failure in paying the ICULS's interest may constitute an event of default. The Company is seeking the Trustee's advice and any material development on the matter will be made to the public accordingly.

On separate matter, the Company wishes to inform that pursuant to Section 340 (2) of the Companies Act, 2016, IRETEX is required to hold its annual general meeting ("AGM") for the year 2017 within 6 months of the Company's financial year end, i.e. by 30 June 2017, and not more than 15 months after the last preceding AGM. However, the Company has failed to hold its AGM by 30 June 2017 as the Company was served with a Special Notice to remove the Board of Directors and placed uncertainty to call for AGM.

IRETEX wishes to announce that the Company has submitted an application for an extension of time to hold the AGM for the year 2017 up to 27 August 2017 to Companies Commission of Malaysia on even date. The outcome of the said Application will be announced in due course.

This announcement is dated 20 June 2017.






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 20 Jun 2017
Category General Announcement for PLC
Reference Number GA1-20062017-00088