NOTICES OF FINAL MEETINGS
We advise that Mr. Don M Ho and Mr. David Ho of M/s. DHA+PAC were appointed the Joint & Several Liquidators of MAGNUS ENERGY GROUP LTD. (IN LIQUIDATION) pursuant to resolutions passed at an Extraordinary General Meeting of the Company and at a meeting of the creditors of the Company on 27 August 2024 to wind up the affairs of the Company.
Extract of the Scrutineer Certificate dated 27 August 2024
ELECTRONIC TRANSMISSION OF NOTICES OF MEETINGS
Ordinary Resolution 1: THAT the Company is approved to convene future general meetings of Shareholders of the Company by electronically
transmitting the relevant notices of general meetings to each Shareholder instead of mailing the relevant notices to each Shareholder.
PROPOSED DISPOSALS OF THE SALE SHARES AND THE SALE PROPERTY
Ordinary Resolution 2: THAT the directors are approved to sell 80% of the registered and paid-up ordinary shares (the “Sale Shares”) in the
capital of Mid-Continent Equipment, Inc (“MEI”).
Ordinary Resolution 3: THAT the directors are approved to sell the property at 5234 Brittmoore Road Houston Texas 77041 (Legal Description: TR 3F-2, ABST 919 WCRR CO SEC 5 BLK 1) currently owned by Mid-Continent Enterprises LLC.
PROPOSED VOLUNTARY WINDING UP OF THE COMPANY
Special Resolution 1: THAT the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).
Special Resolution 2: THAT upon such winding up any surplus assets whatsoever remaining in the Company after satisfaction of all debts and liabilities shall be distributed to the members either in cash or in specie at the discretion of the Liquidators (defined below).
Ordinary Resolution 4: THAT Mr Don M Ho and Mr David Ho Chjuen Meng of M/s DHA + pac, Licensed Insolvency Practitioners of 63 Market Street, #05-01A Bank of Singapore Centre, Singapore 048942 (collectively, the “Liquidators”) be appointed Joint and Several liquidators to conduct the winding up and that their remuneration be in the scale of their usual professional charges for the work involved.
Ordinary Resolution 5: THAT the books and papers of the Company be destroyed pursuant to Section 195(2) of IRDA.
Ordinary Resolution 6: THAT the Joint and Several Liquidators be empowered to wind up or strike off the rest of the subsidiaries under the Group as they deem fit.
For submission of Proof of Debt (Form VWU-11) (“POD”), please submit the POD form together with the supporting documents to substantiate your claim. All PODs received by the Company are subject to the adjudication by the Liquidators, to be paid out of any surplus assets available arising out of the liquidation process of the Company on a pari-passu basis in the event of a distribution.
If there are any information that may assist the Liquidators in the investigation into the affairs of the Company and the recovery of the assets, please forward the same to us. We will preserve the confidentiality of the information given and non-disclosure of the identity of the informant.