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Viking Offshore calls for trading halt; Court hearing of winding up proceedings scheduled for June 14
VIKING Offshore and Marine (VOM) has called for a trading halt at 10.32am on Tuesday.
The offshore and marine system solutions provider previously lifted a trading halt on the evening of May 7, and simultaneously announced a delay in the Court hearing of winding up proceedings made against the group by an individual Wang Qi.
The hearing has been adjourned to June 14 from May 31.
Ms Wang had previously extended an S$800,000 loan to VOM, and on March 8 sent a statutory demand through her solicitors to VOM and its wholly owned subsidiary, Viking Asset Management, demanding payment for the loan.
She is the wife of Zhang Yi, owner of China Stem Cell Group Shanghai Biotech Co. Both of them had initially made a verbal agreement with VOM regarding the loan on March 16, according to VOM. They made further demands thereafter, which the company said it could not "reasonably accept".
VOM shares were unchanged at S$0.004 prior to the trading halt.