About a year ago, we engaged Kroll Pte Limited as our financial advisors and Rajah & Tann Singapore LLP as our legal advisors in Singapore, such that we could file an application to the Singapore Courts to obtain a moratorium and consider our restructuring options in light of the financial difficulties we faced then.
We are pleased to announce that we have successfully proposed a scheme of arrangement (the “Scheme”) pursuant to section 210 of the Companies Act, which has been approved by the requisite majority of creditors, and sanctioned by the Singapore Court on 10 August 2023.
On 16 August 2023, the Order of Court which sets out the Court’s sanction of the Scheme was lodged with the Accounting and Corporate Regulatory Authority of Singapore, and the Scheme takes effect from this date i.e. 16 August 2023. General FAQs regarding the Scheme are available on Vauld’s website .
We look forward to continuing to work together with all our stakeholders.
If you have any queries, please submit them to email@example.com. We will endeavour to address them as soon as practicable.
Chief Executive Officer
[16 August 2023]