Ascent Bridge Seeks Delay of Annual Meeting Amid Legal Challenges

MT Newswires10-07

Ascent Bridge (SGX:AWG) has applied to the Singapore Exchange Regulation for a further extension to hold its annual general meeting and to issue its annual and sustainability reports for FY2024, according to a Friday filing on the Singapore Exchange.

The infrastructure development company seeks to delay the AGM to Nov. 30 from Sept. 30 and to issue its reports by Nov. 15, instead of the previously scheduled Sept. 13.

Ascent Bridge is also submitting an application to the Accounting and Corporate Regulatory Authority for a similar extension regarding the AGM and to file its annual return by Dec. 31.

The request follows ongoing challenges, including a requisition for an extraordinary general meeting from MTBL Global Fund and three share placement agreements executed on Sept. 26 for 17.4 million new ordinary shares at SG$0.14 each.

The company is also facing a legal injunction related to these placements.

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