BEST World International now has until Oct 31 to convene its annual general meeting , the mainboard-listed skincare product seller announced on Tuesday.
This comes as PwC is conducting an independent review into Best World's business dealings as ordered by SGX in April, after a short-seller report questioned the accounting behind its profits and sales practices in China. Best World's board believes that the objective of the expanded review would be"better achieved" if the AGM is postponed until after the review is completed and the executive summary of PwC's key findings has been announced.
Given that trading in Best World shares has been suspended since May 9, the further time extension for the AGM will not adversely affect the trading in the shares or the interests of shareholders, the company noted.