Latest News - PIL - Pacific International Lines
Court Sanction of Scheme of Arrangement – Update on Lodgement of Sanction Order
17 March 2021

Pacific International Lines (Private) Limited wishes to announce that the Order of Court sanctioning the Scheme of Arrangement dated 31 January 2021 ("the Scheme") has been lodged with the Accounting and Corporate Regulatory Authority of Singapore on 16 March 2021. Accordingly, the Scheme Effective Date (as defined in the Scheme) has occurred. Nonetheless, pursuant to the terms of the Scheme, if the Conditions Precedent are not satisfied or waived, the compromises and arrangements provided by the Scheme shall have no effect and the full rights and obligations of the Scheme Creditors shall remain in full force and effect. Kindly refer to the Company’s announcement on SGX for more information.