Shareholders of G Neptune Approved its Regularisation Plan
A key milestone for G Neptune's proposed regularisation plan which includes amongst others, the proposed acquisition of Southern Score and a proposed private placement raising at least RM108.6 million
- A key milestone for G Neptune's proposed regularisation plan which includes amongst others, the proposed acquisition of Southern Score and a proposed private placement raising at least RM108.6 million
KUALA LUMPUR, Sept 13, 2022 - (ACN Newswire) - The non-interested shareholders of G Neptune Berhad have approved its proposed regularisation plan during the extraordinary general meeting (EGM) held today. - The shareholders' approval marks a key milestone for G Neptune's proposed regularisation plan which is expected to address the Company's Guidance Note 3 (GN3) status as well as return it to a stronger financial standing as well as profitability.
- Shareholders also approved to change the Company's name to "Southern Score Builders Berhad", a move undertaken by the Company to better reflect G Neptune's new corporate identity moving forward.
- With the injection of Southern Score, we believe that G Neptune will be in a stronger financial standing and profitability, thereby benefiting all stakeholders."