Wintoni said the parties aim to sign the definitive agreements on or before Sept 30, 2017. The proposed scheme of arrangement with creditors will be conditional upon the completion of the proposed regularisation plan, but not vice versa. It will also include a proposed scheme of arrangement with shareholders of Wintoni, an exemption, as well as an offer for sale and private placement. "Wintoni shall after the date of the MoU be permitted to carry out due diligence on both Techway and Cadflex," said Wintoni. Wintoni shares closed one sen or 25% at three sen today, bringing it a market capitalisation of RM15.39 million.

Source: The Edge Markets March 06, 2017 12:56 UTC