B.I.G. INDUSTRIES BERHAD (“BIG” OR “THE COMPANY”)
– PROPOSED DEBT RESTRUCTURING SCHEMEThe Board of Directors of the Company wishes to announce that the Corporate Debt Restructuring Committee (“CDRC”) has via its letter dated 25 February 2011 accepted the Company’s application to mediate between BIG and its unsecured financial lender.
The CDRC has allowed the Company a period of 6 months commencing from 25 February 2011 to complete a proposed debt restructuring scheme (“Proposed Debt Restructuring Scheme”).
The Company will make the necessary announcement once the Proposed Debt Restructuring Scheme is finalised.
This announcement is dated 25 February 2011. |