AVANGAAD

0.300

+0.005 (+1.7%)

OTHERS AVANGAAD BERHAD ("AVANGAAD" OR "THE COMPANY") - RECOVERY OF NET PROCEEDS FROM DIVESTMENT VESSEL AND ADDITIONAL DISTRIBUTION PURSUANT TO SCHEME OF ARRANGEMENT

AVANGAAD BERHAD

Type Announcement
Subject OTHERS
Description 
AVANGAAD BERHAD ("AVANGAAD" OR "THE COMPANY") - RECOVERY OF NET PROCEEDS FROM DIVESTMENT VESSEL AND ADDITIONAL DISTRIBUTION PURSUANT TO SCHEME OF ARRANGEMENT

The Board of Directors of Avangaad wishes to announce that on 22 May 2026, the Company had recovered the net proceeds from the sale of the Divestment Vessel "M.T. Nautica Muar" which had been deposited as security in respect of Karina Shipping Ltd.'s claims in Kuala Lumpur High Court Admiralty In Rem No: WA-27NCC-12-02/2021.

Accordingly, on 25 May 2026 the Company had made the additional distribution to the Scheme Creditors pursuant to the Scheme of Arrangement (sanctioned on 4 Jan 2023).

 

The announcement is dated 25 May 2026.



Announcement Info

Company Name AVANGAAD BERHAD
Stock Name AVANGAAD
Date Announced 25 May 2026
Category General Announcement for PLC
Reference Number GA1-21052026-00025


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