Informal meeting to brief creditors on scheme of arrangement was held after rival group obtained a court order to adjourn court-convened meetings.
The incumbent board of KNM led by Tunku Yaacob claims it has won the support of creditors in the battle with a team led by Tunku Kamariah for control of the company.
It said that “a sufficient majority of the creditors in attendance” repeated their support for the draft SOA proposed by the current management. In a filing to Bursa Malaysia yesterday, the board announced that the court-convened meetings would be converted into an informal meeting to seek the views of the scheme creditors with regards to the SOA.
“However, the creditors reiterated this condition applies only if the current board and management remains intact,” the statement said.
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