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USP Group Limited ( (SG:BRS) ) has provided an update.
USP Group Limited, incorporated in Singapore and currently under judicial management, remains under a trading suspension in respect of its shares. The company has announced that its Judicial Managers have filed an originating application with the High Court seeking approval to convene a creditors’ meeting within three months to consider and vote on a proposed scheme of arrangement. If the requisite statutory conditions are met, the Judicial Managers intend to seek the Court’s sanction for the scheme to become binding on the company and its creditors, a step that could significantly shape the company’s restructuring trajectory and future treatment of stakeholders. The company has indicated it will provide further updates as material developments arise.
More about USP Group Limited
USP Group Limited is a Singapore-incorporated company currently under judicial management, with its shares suspended from trading since 23 February 2024.
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$3.79M
See more data about BRS stock on TipRanks’ Stock Analysis page.