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...
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04 March 2015
Mainboard-listed Blumont Group said on Wednesday that the directors of Genesis Resources (GES) have recommended on March 3, 2015, that the shareholders of the Australia-listed miner reject its takeover offer.
Blumont added that the directors of GES have also stated that they do not intend to accept the offer in respect of the GES shares that they own, which amounted to approximately 2.42 per cent of the total number of GES shares as at March 3.
Notwitstanding this, Blumont said its proposed takeover bid continues and the offer is now scheduled to close at 5.00 pm (Melbourne time) on March 23, 2015, unless further extended or withdrawn.
The Singapore company launched its off-market takeover bid for GES in January last year. The offer, originally to end on Sept 24 last year, had been earlier extended to Feb 13 this year for Blumont to seek approval from its shareholders on the proposed allotment and issue of the consideration shares.
GES has a portfolio of gold, iron, manganese, uranium and base metal (copper-zinc-silver) in northern and central Australia, holding seven exploration licences over an area of 1,136 sq km.