Hyflux postpones third town hall; cites space issues due to 'large number' of expected attendees

Hyflux postpones third town hall; cites space issues due to 'large number' of expected attendees

Michelle Zhu
12/03/19, 07:32 am

SINGAPORE (Mar 12): Hyflux is postponing its town hall meeting indefinitely as the group says the venue cannot accommodate the “large number” of shareholders and noteholders who said they wished to attend.

The group adds that it will announce the details of the rescheduled meeting as soon as possible.

Originally scheduled to take place tomorrow at 7pm, the third round of Hyflux’s town hall meetings with holders of its notes, perpetual securities and preference shares meant to be held at the multi-purpose hall of Hyflux Innovation Center at 80 Bendemeer Road.

Hyflux last week announced its intention to amend its restructuring scheme to allow some 34,000 minority investors, which comprise its junior creditor group, to share the upside from contingent liabilities extinguishing or expiring.

The proposal comes in response to a Feb 27 letter written by investor advocacy group Securities Investors Association Singapore (SIAS), which urged Hyflux to give its junior creditor group a fairer deal.  

Hyflux’s upcoming scheme meeting, where creditors will vote on its restructuring plan, is due to take place on Apr 5.

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