We, Onn Kien Hoe and Mok Yuen Lok (“Liquidators”), as Liquidators of CLIQ Energy Berhad (“CLIQ” or “Company”) refer to the announcement dated 26 September 2016 on the winding up of CLIQ and we make this announcement on behalf of CLIQ.
Further to the announcement by the independent directors of CLIQ of 26 September 2016, we wish to clarify as follows:
(1) On 26 September 2016, in the course of ordering that CLIQ be wound up (“Order”), the Kuala Lumpur High Court ("Court") had also ordered that the Liquidators do make payment to and/or take such necessary steps to meet the requirements as are provided under Article 61C(7) of the Company’s Articles of Association dated 2 February 2012, in particular including making a substantial interim payment to entitled shareholders (“Entitled Shareholders”) and payment of all costs and disbursements arising from and/or in connection with the liquidation ("Article 61C(7) order");
(2) However, upon the oral application of counsel for Best Oracle Sdn Bhd ("Best Oracle"), the Court had on the same day stayed the Article 61C(7) order for 48 hours from the date of the Order to allow Best Oracle to file an appeal to the Court of Appeal against the order to wind up CLIQ and a formal application for a stay of the Article 61C(7) order pending the said appeal during the 48-hour window without the Article 61C(7) order being executed in the meantime;
(3) Be that as it may, CLIQ's solicitors have received today a copy of a letter from Best Oracle's solicitors dated 27 September 2016 addressed to the Court, informing that Best Oracle does not intend to file the aforesaid formal stay application and that consequently the aforesaid 48-hour stay would automatically lapse.
According to the Companies Act, 1965, upon appointment of the Liquidators, all the powers of the directors of the Company shall cease, unless the Court directs otherwise.
The duties of the Liquidators are set out in S236(1) and (2) of the Companies Act, 1965, read together with the Order, which include, inter-alia, the following:
(a) To make payment to the Entitled Shareholders and payment of all costs and disbursements arising from and/or in connection with the liquidation;
(b) To realise the assets of the Company;
(c) To settle liabilities of the Company in accordance with the laws; and
(d) To do all such things as are necessary for winding up the affairs of the Company and distributing its assets.
The Liquidators intend to distribute the monies held in the cash trust account in two tranches as follows:
(a) 98% of the monies to Entitled Shareholders not later than 30 days from the date of obtaining the sealed copy of the Order ("First Distribution"); and
(b) the balance 2% of the monies to Entitled Shareholders within one year from the First Distribution after deducting direct expenses related to the liquidation distribution and obtaining tax clearance.
As at the date of this announcement, the total amount of monies held in the cash trust account is RM362,800,834.55.
This announcement is dated 27 September 2016.
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发表于 27-9-2016 03:33 AM
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