Mirach Energy fails to procure exit offer, commences winding up

MAINBOARD-LISTED Mirach Energy is taking steps to wind up the company as it is unable to procure a reasonable exit offer, the oil and gas company announced in a Singapore Exchange filing on Wednesday.

It is obtaining quotes from legal advisers and liquidators for costs and steps involved in the process.

Mirach Energy had in October been granted a three-month extension to submit an exit-offer proposal after certain shareholders expressed their collective intention to make an offer.

The company said it will apply for a further extension to conclude the winding-up process.