Popular posts from this blog
Ex-bank owner Agus Anwar declared bankrupt
Two ex-UOBKH staff charged with lying to MAS over due diligence reports on a Catalist aspirant
TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issu...
Comments
Lynette Khoo
30 October 2014
Blumont Group announced on Thursday that it now holds a beneficial interest of 30 per cent in Toronto-listed Powertech Uranium Corp following some share restructuring.
Powertech had on Wednesday acquired all the issued and outstanding common shares of Azarga Resources through a share swap at the rate of 3.65 Powertech Shares for each Azarga Share.
At the same time, Powertech completed a 10-for-one consolidation of outstanding shares, as well as a private placement for gross proceeds of CAD$5 million.
Before the transaction, Blumont, through wholly-owned subsidiary Powerlite Ventures, held 49.46 million shares in Azarga, which in turn held about 45 per cent of the total issued share capital of Powertech, though neither Blumont nor Powerlite beneficially owned any shares in Powertech.
Following the share restructuring, Blumont, through Powerlite, beneficially owns 18 million shares in Powertech, representing about 30 per cent of the issued and outstanding shares in Powertech.