WWE Holdings Bhd has failed to get its proposed restructuring scheme approved by the Securities Commission (SC) due to non-compliance with the Equity Guidelines.
“The board will consider options available to WWE, including an appeal to the SC, and will make an announcement on this matter in due course,” it said yesterday.
Under paragraph 7.03(a) of the SC Equity Guidelines, the assets to be acquired must comply with the profit requirements while 7.05(b) states the assets to be injected must have a healthy financial position.
This article appeared in The Edge Financial Daily, July 15, 2010.
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