Health Management International Scheme Of Arrangement
Looking at the legislative history malaysia is unique in imposing these conditions a to d in the grant of a restraining order in a scheme of arrangement.
Health management international scheme of arrangement. Results of the scheme meeting scheme approved. A scheme of arrangement is a procedure under part 5 1 of the corporations act that allows a company to reconstruct its capital assets or liabilities with the approval of its. Hospital operator health management international hmi has gained the approval of its shareholders for its joint bid with panasia health limited to privatise the mainboard listed company via a scheme of arrangement.
Schemes of arrangement are becoming increasingly more popular in recent years as the preferred way in which takeovers of australian listed companies are effected. For example singapore also had near identical language in its original section 210 10 of the singapore companies act for a restraining order in a scheme of arrangement. A scheme of arrangement works by restructuring the company s debts and varying creditors rights.
Introduction the board of directors the board of health management international ltd the company refers to the announcement dated 5 july 2019 the joint announcement made jointly by the company and panasia health limited the offeror in relation to the proposed acquisition. Health management international hmi on friday announced a joint bid with panasia health limited to privatise hmi by way of a scheme of arrangement that values hmi at approximately s 611 million. Shares in the capital of health management international ltd by way of a scheme of arrangement despatch of scheme document 1.
Hmi shareholders approve scheme of arrangement for privatisation. Health management international ltd uen reg. Hmi on friday announced a joint bid with panasia health limited to privatise hmi by way of a scheme of arrangement that entitles each hmi shareholder to receive for each hmi share either s 0 73 in cash or one new ordinary share at the same price in panasia health.
What is a scheme of arrangement.