Posts

Showing posts from January, 2018

LionGold says it may extend talks over debt restructuring

LIONGOLD Corp - one of the trio involved in the penny stock crash of 2013 - was queried by the Singapore Exchange (SGX) on Thursday over the stock's heavy trading activity.
It said in response that it plans to discuss with creditors on ways to extend a deadline over a debt restructuring proposal tied to outstanding debt of some S$15.8 million. The long stop date then was Dec 28, 2017.
LionGold was the most actively traded counter listed on SGX on Thursday, with 724 million shares changing hands. The stock closed flat at S$0.002.
In its statement on Thursday, LionGold said: "The company wishes to inform shareholders that the long stop date has passed, and the company has not obtained the relevant approvals." Such approvals included shareholders' approval for the issuance of any repayment shares.
"Notwithstanding this, the company intends to have discussions with the creditor and the manager (of the creditor) to extend the long stop date."
In late June last …

Restaurant owner, Bruno Ludovic Soligny, faces charges for market rigging and deceiving securities firms

A restaurateur was charged in court on Thursday (Jan 4) with market rigging and various other securities offences in relation to troubled mainboard-listed dye maker China Fibretech.
Bruno Ludovic Soligny, 39, a Singapore citizen, faces a total of 19 charges under the Securities and Futures Act.
He is accused of carrying out more than 3,800 false trades involving 16.6 million shares in the counter between July 1, 2013 and June 30, 2015 to create "a misleading appearance of active trading".
These trades, described in court documents as reckless, did not involve any change in beneficial ownership of the shares.
Soligny also faces three charges of carrying out trades in order to lower the share price of China Fibretech on July 1, July 7 and July 8 in 2015.
Another four charges allege that he engaged in false trades on July 16, July 22, Aug 31 and Sept 14 in 2015, which inflated the market price of the counter.
Between July 1, 2013 and Sept 30, 2015, Soligny is said to have used…