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SGX RegCo directs Alita Resources to apply for time extension for rescue plan hearing

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SGX RegCo directs Alita Resources to apply for time extension for rescue plan hearing.

The Section 444GA application was made on the basis that Alita's shares have no value. An expert report on the value of Alita's shares is being prepared, with both this and an explanatory statement on the Section 444GA process meant to be available to shareholders by Jan 3.

Under Australian law, the court may approve a Section 444GA application if it is satisfied that this compulsory transfer would not unfairly prejudice the interests of shareholders. Noting this, SGX RegCo said it is of the view"that it is important, and in the interest of shareholders, that sufficient time be given for shareholders to carefully review the expert report and provide their views ... for due consideration".

 

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