Waiver::APPLICATIONS FOR EXTENSION OF TIME
Issuer & Securities
CHINA ENVIRONMENT LTD.
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Date &Time of Broadcast
Announcement Sub Title
APPLICATIONS FOR EXTENSION OF TIME
Submitted By (Co./ Ind. Name)
Corporate Affairs Manager
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of China Environment Ltd (the "Company" and, together with its subsidiaries, the Group ) wishes to announce that the Company had applied to the Singapore Exchange Securities Trading Limited ( SGX-ST ) for an extension to: -
(i) hold its annual general meeting ( AGM ) for the financial year ended 31 December 2015 ( FY2015 ) from the current deadline of 20 December 2016 to 30 June 2017; and
(ii) release its financial results for the third quarter ended 30 September 2016 ( 3Q FY2016 Results Announcement ) from the current deadline of 15 November 2016 to 15 May 2017,
(the Applications ).
The reasons for the Applications are set out as follows: -
(a) The recent lockout and power supply cut due to rental in arrears have created disruption to the local staff and Singapore management who are trying to prepare for the audit to be done.
(b) one of the key accounting personnel, who handled all the major bookkeeping functions and coordinating the sales and purchasing contracts had also resigned recently
The Company will be making a similar application to the Accounting and Corporate Regulatory Authority ( ACRA ) upon receipt of the SGX-ST s approval of its application to request for an extension of time.
The Company will release further announcements to inform on the outcome of its applications to the SGX-ST and ACRA in due course.
Total size =202K