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AnAn International seeks further time extension to hold FY2018 AGM, release Q1 FY2019 results

ANAN International Ltd has applied for a further time extension to hold its annual general meeting (AGM) for fiscal 2018 and release its first-quarter 2019 results.

Both the AGM and results are due on June 28 after the Singapore Exchange granted an extension previously.

The petroleum trader did not specify how much more time it was requesting.

It is seeking the extension as its management, together with its current auditor - Crowe Horwath First Trust LLP, is still finalising outstanding matters, including how much the liquidation of its controlling shareholder AnAn Group (Singapore) Pte Ltd will impact the group's business and operations.

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The company said it is pending an appeal against a Singapore High Court winding up order, which was made based on the claim of about US$170.4 million by VTB Bank against AnAn Group.

The claim by VTB is related to a global master repurchase agreement and a repurchase transaction that both parties entered into in November 2017.

The appeal disputes the claim and accordingly, there should be no basis for a winding up order, said the group. The appeal is scheduled to be heard sometime in or around November 2019.

The company said that it is still in the process of finalising the audited group accounts for fiscal 2018 and the Independent Auditor’s Report to the Members of AnAn International Limited. Both are to be included in the company's FY2018 annual report.

AnAn International's shares were flat at S$0.004 as at 4.04pm.