Imperium Crown Limited (SG:5HT) has released an update.
Imperium Crown Limited has been designated a cash company, which means it must secure 90% of its cash in an escrow account and cannot access these funds until it acquires a new business that meets the SGX-ST’s listing requirements. The company faces financial uncertainty as costs to maintain the escrow exceed available cash, and it is unsure if it can meet obligations within the next year, leading to potential operational concerns. Imperium Crown is seeking a waiver for the escrow requirement and risks delisting if it fails to acquire a suitable business within 12 months, although a six-month extension is possible under certain conditions.
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