USP Group Limited: Key Update on Proposed Scheme of Arrangement and High Court Proceedings

Key Highlights for Investors

• High Court Hearing Scheduled: The hearing for the company’s application (OA 58) regarding the Proposed Scheme of Arrangement is fixed for 30 January 2026 at 10:00 a.m.
• Submission Deadlines: All written submissions and bundles of authorities must be filed and submitted to the Court by 26 January 2026, 4:00 p.m.
• Opportunity for Stakeholder Participation: Shareholders or interested parties who wish to attend the hearing must notify the Judicial Managers at [email protected] or [email protected] by not later than 5:00 p.m. on 28 January 2026.
• Ongoing Trading Suspension: The company’s shares have been suspended from trading since 23 February 2024, and this suspension remains in effect until further notice.

Detailed Update on Legal Proceedings and Corporate Developments

USP Group Limited, currently under Judicial Management, has issued an important update regarding its ongoing efforts to implement a Proposed Scheme of Arrangement. This follows several previously issued announcements, reflecting the company’s efforts to restructure its obligations and potentially pave the way for financial recovery.

At a recent case conference for Originating Application 58 (OA 58) held on 20 January 2026, the High Court of Singapore has established a clear timeline for the legal process:

• The substantive hearing of OA 58 is scheduled for 30 January 2026, at 10:00 a.m., which is a critical date that could determine the approval of the Proposed Scheme of Arrangement.
• Written submissions and supporting documents must be presented to the Court by 26 January 2026, 4:00 p.m.

Shareholders and other stakeholders who wish to observe or participate in the hearing are required to inform the Judicial Managers—contactable via the provided Deloitte emails—no later than 5:00 p.m. on 28 January 2026. This ensures all interested parties have a chance to be involved in the process, which may have direct implications on their investments.

Potential Price Sensitive Developments

• The outcome of the High Court hearing on 30 January 2026 is highly significant. The approval or rejection of the Proposed Scheme of Arrangement could materially impact the company’s future and, consequently, shareholder value.
• The continued suspension of trading in USP Group Limited shares, which began on 23 February 2024, remains in force. Any developments arising from the court hearing or subsequent announcements could affect the potential resumption of trading and the value of the shares.
• The company has committed to releasing further announcements as and when there are material developments related to the Scheme, underlining the importance for shareholders to stay updated.

Conclusion

Investors should closely monitor the outcome of the upcoming court hearing, as it represents a pivotal moment in USP Group Limited’s restructuring efforts. The result could have a substantial impact on the company’s future, including the possibility of resuming trading or altering shareholder value. All stakeholders are encouraged to engage with the Judicial Managers if they wish to be involved in the process or obtain further information.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to make their own independent assessments and seek professional advice before making any investment decisions. The company’s situation remains fluid and subject to court decisions and further announcements.

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