Metech to hold EGM, perform additional valuation for disposal of US, Malaysia businesses

Published Fri, Mar 8, 2019 · 02:49 PM
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E-WASTE management company Metech International on Friday said that it has decided to hold an extraordinary general meeting (EGM) to seek shareholders' approval for the proposed disposal of the company's electronic waste management business in the US and Malaysia.

This decision came after the Catalist-listed firm, through its sponsor, consulted the Singapore Exchange on the application of Catalist rules for the proposed disposals and the requirements, including the need to hold an EGM.

"In addition, for further comfort on the valuation of the proposed disposals, the company has engaged another independent valuer to separately perform an additional valuation for the proposed disposals and shall publish the summary of the additional valuation report on the SGX-Net when it becomes available, prior to the EGM," it added.

The report will be available for inspection during business hours at the company's registered office and also at the EGM itself. If the report happens to not be available prior to the EGM, the company undertakes to postpone the meeting until the report is completed, and a reasonable amount of time has been given to shareholders to inspect it.

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