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MAGNUS Energy Group will convene an extraordinary general meeting (EGM) on Jan 9, 2020 after coming to an agreement with requisitioning shareholders that had initially proposed to hold their own EGM. Catalist-listed Magnus previously proposed to hold the EGM between Jan 17 and 21, while the requisitioning shareholders had proposed Jan 13 instead. The shareholders are Ong Chin Yew, Sng Lee Leng and two companies Blue Water Engineering and Idola Cakrawala International. To save costs, Magnus will hold the EGM to consider and approve its own resolutions and those proposed by the shareholders, it said on Wednesday night in its lawyers' response to the shareholders' solicitors' letter. The costs of any additional EGM held by shareholders would be paid by the company under Section 176 of the Companies Act. We’ll be curating stories from management guru John Bittleston and making them free to read. Magnus had expressed concerns regarding the seven resolut...

SINGAPORE Exchange Regulation (SGX RegCo) is seeking to revise the listing rules for more powers to deal with potential misconduct and to protect shareholder interest, especially in the area of interested person transactions (IPTs). Chief executive officer of the frontline market regulator, Tan Boon Gin, told The Business Times that the objective is to ultimately "secure faster enforcement outcomes and provide clarity to the market". Enforcement actions are important both to punish and to deter bad behaviour. "We have been formulating a plan to overhaul our enforcement policy, framework and actions. This is targeted to be presented and consulted on next year," he shared. "The changes will include the structure and terms of reference of the Listings Disciplinary Committee (LDC) and the Listings Appeals Committee (LApC). We will also address the impact on minority shareholders when companies are fined." Mr Tan, who has been helming SGX RegCo...