ASL Marine asks for more timeCompany News // October 17, 2016
The Board of Directors of ASL Marine Holdings Ltd has applied to the Singapore Exchange Securities Trading Limited (SGX-ST) for a one month extension to: hold its annual general meeting for the financial year ended 30 June 2016 (FY2016) from the current deadline of 31 October 2016 to 30 November 2016; and release its financial results for the first quarter ended 30 September 2016 (1Q FY2017 results) from the current deadline of 14 November 2016 to 14 December 2016.
The company said it needs more time to obtain a commitment letter from its capital providers in providing new facility loans to the group for its short term requirements. The company also requires time thereafter to print as well as distributes its annual report and to observe the 14-day notice to its shareholders.
As the company is required to compare certain financial information in its 1Q FY2017 results announcement against the audited financial statements of the company for FY2016, the company is of the view that it is prudent that the company releases its 1Q FY2017 results after the audited financial statements of the company for FY2016 is