Mirach Energy to delist from Singapore Exchange on Sept 30

MAINBOARD-LISTED Mirach Energy will be delisted on Sept 30, the company announced in a bourse filing on Friday.

Earlier in May, the company said it will be placed under creditors voluntary winding-up after the directors evaluated options for the group.

This came after the company said in December last year that it was taking steps to wind up as it was unable to procure a reasonable exit offer.

As at end-March this year, Mirach Energy was left with limited cash and cash equivalents of some US$66,000 and continues to be loss-making despite efforts to streamline the group's operations.

The directors said they were of the view that a winding-up would allow a fair and orderly distribution of the company's remaining assets to creditors and shareholders, in the event there were surplus assets.

Mirach Energy shareholders had approved the creditors' voluntary liquidation at an extraordinary general meeting on June 24.

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