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.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

READ MORE: 

Mirach Energy gets 3-month extension to submit delisting proposal

Mirach Energy gets further and final extensions for FY2019 AGM, annual report

Acra rejects BDO's application to resign as Mirach Energy's auditor

Auditors should avoid ditching companies midway on audit work