Yujin International Ltd Proposed Scheme of Restructuring (9093J)
23 December 2015 - 6:00PM
UK Regulatory
TIDMYUJ
RNS Number : 9093J
Yujin International Ltd
23 December 2015
23 December 2015
yujin international ltd.
("YIL" or "the Company" or "the Group")
Announcement
Proposed SCHEME to restructure the business of YUJIN
INTERNATIONAL LTD and its subsidiaries ("PROPOSED SCHEME")
1. DESPATCH OF CIRCULAR
Further to the announcement made on 2 December 2015 (the
"Announcement") by the Company, the Directors are pleased to
announce that the Circular in connection with the Proposed Scheme
has today been despatched to all Shareholders. Further details of
the Proposed Scheme are provided in the Circular. Unless otherwise
defined, all terms used herein bear the same meaning as in the
Announcement.
2. STATEMENT PURSUANT TO SECTION 76(10)(C) OF THE COMPANIES ACT,
CHAPTER 50 OF SINGAPORE (THE "COMPANIES ACT")
The statement made pursuant to Section 76(10)(c) of the
Companies Act and signed by two Directors is attached to the Notice
of Extraordinary General Meeting ("EGM") in the Circular.
3. NOTICE OF EGM
NOTICE IS HEREBY GIVEN that an EGM of the Shareholders will be
held on 15 January 2016 at 10.30 a.m. Singapore time at 400 Orchard
Road #20-05 Orchard Towers Singapore 238875 for the purpose of
considering and, if thought fit, passing (with or without
modifications), the following special resolution:
SPECIAL RESOLUTION
"THAT:
(a) the Company be authorised to undertake the Proposed Scheme
as defined and more particularly described in the Circular to
Shareholders dated 23 December 2015 (the "Circular") pursuant to
Section 210 of the Companies Act (Chapter 50) of Singapore and to
give any financial assistance (the "Financial Assistance") which
may be given by the Company, directly or indirectly, within the
meaning of Section 76 of the Companies Act (Chapter 50) of
Singapore, for the purpose of, or in connection with, the Proposed
Scheme; and
(b) the Directors and each of them be and are hereby authorised
to complete and do all acts and things (including executing all
such documents as may be required in connection with the Proposed
Scheme and the giving of Financial Assistance by the Company) as
they or he may consider desirable, necessary or expedient to give
full effect to this Special Resolution."
PARTICULARS OF THE PROPOSED FINANCIAL ASSISTANCE
The particulars of the proposed financial assistance are set out
in Section 2.1, 2.2, 2.3 and 2.4 of the Circular.
REASONS FOR THE PROPOSED FINANCIAL ASSISTANCE
The reasons for the proposed financial assistance are set out in
Section 2.2 of the Circular.
EFFECT OF THE PROPOSED FINANCIAL ASSISTANCE ON THE FINANCIAL
POSITION OF THE COMPANY AND THE GROUP
The effect of the proposed financial assistance on the financial
position of the Company and the Group is set out in Section 2.5 of
the Circular.
STATEMENT PURSUANT TO SECTION 76(10)(C) OF THE COMPANIES ACT,
CHAPTER 50 OF SINGAPORE
A copy of the statement of the directors of the Company made
pursuant to the provisions of Section 76(10)(c) of the Companies
Act (Chapter 50) of Singapore is attached herewith.
Notes:
1. A shareholder of the Company entitled to attend and vote at
the EGM is entitled to appoint not more than two (2) proxies to
attend and vote on his/her behalf. A proxy need not be a
shareholder of the Company.
2. Where a shareholder of the Company appoints more than one
proxy, he/she should specify the proportion of his/her shareholding
(expressed as a percentage of the whole) to be represented by each
proxy and if no percentage is specified, the first named proxy
shall be treated as representing 100% of the shareholding and the
second proxy shall be deemed to be an alternate to the first
named.
3. A body corporate which is a shareholder of the Company may
also appoint by resolution of its directors or other governing body
such person as it thinks fit to act as its authorized
representative in accordance with its articles of association and
Section 179 of the Companies Act (Chapter 50) of Singapore.
4. The instrument appointing a proxy or proxies (together with
the power of attorney (if any) under which it is signed or a
certified copy thereof) must be deposited at the registered office
of the Company at 400 Orchard Road #20-05 Orchard Towers, Singapore
238875 not less than 48 hours before the time appointed for holding
the EGM or any postponement or adjournment thereof.
5. The instrument appointing a proxy or proxies must be signed
by the appointer or his attorney duly authorised in writing. Where
the instrument appointing a proxy or proxies is executed by a
corporation, it must be executed either under its common seal or
under the hand of any officer or attorney duly authorised.
6. A Depositor's name must appear on the Depository Register
maintained by the Computershare Investor Services at least 48 hours
before the time appointed for holding the EGM in order for the
Depositor to be entitled to attend and vote at the EGM.
BY ORDER OF THE BOARD
For further information please contact:
Yujin International Ltd. Tel: 00 (65) 6226 2963
Keen Whye LEE
Or visit www.yujininternational.com
Cantor Fitzgerald Europe
Rick Thompson / Michael Reynolds Tel: 020 7894 7000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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