Company Name
:
HAISAN RESOURCES BERHAD
Stock Name
:
HAISAN  
Date Announced
:
02/01/2013


Type
:
Announcement
Subject
:
PRACTICE NOTE 1 / GUIDANCE NOTE 5
MONTHLY ANNOUNCEMENT

Description
:
HAISAN RESOURCES BERHAD ("HAISAN" OR "THE COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF DEFAULT IN PAYMENT PURSUANT TO PRACTICE NOTE 1 ("PN 1") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES")

Announcement Details/Table Section :


Further to the Company's monthly announcement dated 3 December 2012 pursuant to PN 1 of the Main Market Listing Requirement of Bursa Securities, the Board of Directors of HAISAN wishes to inform that with the assistance of Corporate Debt Restructuring Committee ("CDRC"), the Company had received 100% approval from the secured lenders and 93% approval from the unsecured lenders respectively for its Proposed Alternative Settlement Scheme, as informed by CDRC via its letter dated 21 December 2012. Haisan is required to execute the Debt Restructuring Agreement ("DRA") with both the secured and unsecured lenders within 30 days from the date of the letter.

The Company, with the assistance of the Company's principal adviser, Public Investment Bank Berhad, is currently in the midst of preparing for the submission of its revised Proposed Regularisation Plan to Bursa Securities for approval. 

The Company will announce further developments on the above matter as and when necessary.

This announcement is dated 2 January 2013.

© 2013, Bursa Malaysia Berhad. All Rights Reserved.


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