THE following companies saw new developments that may affect trading of their securities on Friday (Dec 9):
Keppel Corp, Sembcorp Marine: KEPPEL Corporation’s shareholders voted overwhelmingly for the merger of its offshore and marine (O&M) unit with Sembcorp Marine (Sembmarine), with 99.96 per cent of votes cast for the proposal.
This translates to 562.8 million votes, Keppel said in a bourse filing after an extraordinary general meeting on Thursday (Dec 8) held to put the proposal to a vote. Against votes amounted to 214,126, or 0.04 per cent of the votes cast. Temasek Holdings, which holds some 371.4 million Keppel shares, abstained from voting.
99.96 per cent of votes, translating to about 562.3 million shares, were also cast in favour of a second resolution, which is for Keppel to make the distribution in specie of Sembcorp Marine’s shares at a time and date to be determined by Keppel’s directors.
The long-anticipated merger of the two O&M giants was first announced in April 2022 with plans to carry out separate schemes of arrangement that will result in Keppel O&M and Sembmarine becoming wholly-owned subsidiaries of the combined entity.
A-Smart: BILLIONAIRE Oei Hong Leong is set to acquire a 20 per cent stake in printing and recycling specialistfor S$5.37 million, A-Smart said in a bourse filing on Thursday (Dec 8).
This translates into an issuance of 29.8 million new ordinary shares to Oei at S$0.18 apiece, a 50 per cent premium to A-Smart’s closing price of S$0.12 on 6 Dec, 2022.
The placement makes Oei a substantial shareholder, and also the second-largest shareholder after Chinese entrepreneur Ma Wai Dong, who acquired a 52 per cent stake in 2016.
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