Asiasons to relook Black Elk deal after SGX rejects new share issue
Asiasons Capital Limited said on Thursday that it would relook the terms and conditions of its planned purchase of 27.5 per cent of US Black Elk Energy Offshore Operations LLC.
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Angela Tan, Business Times
17 October 2013
Asiasons Capital Limited said on Thursday that it would relook the terms and conditions of its planned purchase of 27.5 per cent of US Black Elk Energy Offshore Operations LLC.
The decision came after the Singapore Exchange yesterday rejected the company’s application to use its general mandate for the listing and quotation of the new shares and the introducer fee shares.
“...the SGX-ST is of the view that there is insufficient mandate for the issuance of the consideration shares and introducer fee shares from the general mandate of the company,” Asiasons said in a statement.
Asiasons, together with LionGold and Blumont, has been declared “designated securities” by the regulator in an effort to stem speculative fever surrounding their trading.