Post-merger Sembmarine appoints Keppel O&M chief Chris Ong as CEO; shares see heavy trading

The Straits Times2023-03-01

SINGAPORE - Chris Ong, the chief executive officer of Keppel Offshore & Marine (Keppel O&M), will assume the role of CEO of the combined behemoth offshore and marine entity after the merger with ...

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Other members of the new Sembmarine board include non-executive and non-independent director Nagi Hamiyeh, as well as other independent directors Jan Holm and Lai Chung Han. \n\n\n\nSembmarine announced that the merger closed on Tuesday, with Keppel O&M now a wholly-owned subsidiary of the company. \nSembmarine shares resumed trading on Wednesday, after a halt on Tuesday. As at 9.59am, the counter was down 0.4 cent, or 3.15 per cent, to 12.3 cents with 604 million shares changing hands, making it the most heavily-traded stock.\nThis comes after Sembmarine on Tuesday allotted and issued roughly 36.8 billion new shares at an issue price of 12.2 cents per share to Keppel Corp and its shareholders directly under the merger. \n\n\n\n\nWith this, the total issued share capital of Sembmarine now stands at 68.2 billion shares – excluding treasury shares – versus 31.4 billion shares previously.       \n\nThe new shares represent 54 per cent of the total issued share capital of the company, said Sembmarine.      \nThey were expected to be listed and quoted on the mainboard of the Singapore Exchange at market open on Wednesday.  THE BUSINESS TIMES\n\nWith additional information from The Straits Times\n\n\n\n\n\n\nMore On This Topic\n\n \n\nSembmarine narrows H2 loss to $118.3 million on execution, completion of projects\n\n\n\n \n\nSembmarine calls for trading halt pending announcements","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2316659117"}