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USP Group Limited: Notice of Creditors’ Meeting for Proposed Scheme of Arrangement
USP Group Limited Issues Notice of Creditors’ Meeting for Proposed Scheme of Arrangement
Key Highlights for Investors
- USP Group Limited (Under Judicial Management) has called for a Scheme Meeting with its creditors.
- Date and Time of Meeting: 9 April 2026, 3:30 p.m.
- Venue: 6 Shenton Way, OUE Downtown 2, #33-00, Singapore 068809
- Purpose: To consider and, if deemed appropriate, approve the Proposed Scheme of Arrangement.
- Key Deadlines for Creditors:
- Creditors who have not previously filed a Proof of Debt must do so by 26 February 2026, 4:00 p.m. via email.
- All proxy forms for the Scheme Meeting must be lodged by 7 April 2026, 4:00 p.m. via email.
- Trading Suspension Status: The suspension of trading in the Company’s shares, which began on 23 February 2024, remains in effect.
Detailed Insights and Potential Share Price Implications
USP Group Limited, which is currently under Judicial Management, has officially announced the convening of a creditors’ meeting to deliberate on a Proposed Scheme of Arrangement. This is a critical development for the company as it seeks to restructure its obligations and potentially pave the way for recovery or orderly resolution.
The Scheme Meeting will be held on 9 April 2026 at the company’s office at OUE Downtown 2, Singapore. All creditors are invited to attend and vote on the proposed restructuring plan.
Creditors who wish to participate in the Scheme but have not yet filed a Proof of Debt must complete and submit the required documentation by 26 February 2026, 4:00 p.m. via email to the Judicial Managers (emails provided in the notice). Proxy forms for those unable to attend in person must be submitted by 7 April 2026, 4:00 p.m.
Importantly, the Company has made available the Explanatory Statement, which includes the Scheme details, Proof of Debt Form, and proxy forms, upon request from the Judicial Managers. This documentation is crucial for creditors to understand the terms of the Scheme and to make informed decisions.
Critical Information for Shareholders
- Trading Suspension Continues: The ongoing suspension of trading in USP Group Limited’s shares, which started on 23 February 2024, remains in effect. This is a significant issue for shareholders as it means shares cannot be traded on the open market, and liquidity remains constrained until further notice.
- Potential Impact on Share Value: The outcome of the creditors’ meeting and approval (or rejection) of the Scheme of Arrangement could have a substantial impact on the company’s financial position, restructuring prospects, and ultimately, the fate of shareholders’ investments. Approval of the Scheme could potentially lead to a pathway for lifting the trading suspension and restructuring the company’s obligations. However, failure to approve may result in alternative measures, including possible liquidation.
- Price Sensitivity: Shareholders should note that any updates regarding the Scheme’s approval, terms, or progress in the restructuring process are likely to be material and could affect the company’s share price once trading resumes.
Next Steps
- Creditors should ensure they submit Proof of Debt by the stipulated deadline if they intend to participate.
- All proxy forms should be lodged in advance for those not attending in person.
- Shareholders and market participants should closely monitor further announcements from the company and the Judicial Managers regarding the outcome of the Scheme Meeting and any changes to the trading suspension status.
Contact for Further Information
Creditors or shareholders seeking more information or wishing to obtain the Explanatory Statement and related forms should contact the Judicial Managers at [email protected] and [email protected].
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should seek professional advice and refer to official announcements and documents issued by USP Group Limited and its Judicial Managers for full details.
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