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Proposed Scheme Of Arrangement Between Prestariang Skin Sdn. Bhd. And Its Scheme Creditors Pursuant To Section 366 Of The Companies Act 2016

We refer to our announcement dated 24 August 2020 in relation to the proposed scheme of arrangement between Prestariang SKIN Sdn Bhd (“PSKIN”) and its scheme creditors. 

The Company wishes to update that the High Court of Malaya has granted, among others, leave to PSKIN on 30 September 2020 (“Court Order”) to summon meetings of creditors of PSKIN or any class of them to be held within three (3) months of the date of the Court Order for the purpose of considering and, if thought fit, approving with or without modification the proposed scheme of arrangement, pursuant to Section 366 of the Companies Act 2016.
The details of the abovementioned proposed scheme of arrangement are in the process of being finalised by the Company. The Company will make the relevant update announcement(s) in relation to the foregoing as and when there are material developments on the same.

This announcement is dated 30 September 2020.