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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." ...

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, Solig...

Keppel Corporation's offshore and marine unit has reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by a former agent in Brazil. The resolution, involving three jurisdictions across the world, is unprecedented for a Singapore company. As part of the resolution, Keppel Offshore & Marine (Keppel O&M) will pay fines amounting to US$422.2 million (S$570 million), to be allocated between the US, Brazil, and Singapore, the Singapore-listed conglomerate said in a statement early Saturday (Dec 23). The corrupt payments relate to those made by Mr Zwi Skornicki on several Keppel O&M projects in Brazil, which were carried out with the knowledge or approval of former Keppel O&M executives. Of the US$422.2 million in fines, Keppel O&M will pay about US$105.6 million to the US, including a US$4.7 million criminal fine by Keppel O&M USA. Brazil will receive US$211.1 mil...

ISR Capital has announced that due to a change in its issued share capital, the total consideration for its deal with REO Magnetic will be lowered to S$2.99 million from S$4.52 million. In a filing with the Singapore Exchange (SGX), ISR said that the consideration price per share for the deal with REO - which would see ISR take an aggregate stake of 60 per cent in Mauritian company Tantalum Holding - would be adjusted to 0.4 Singapore cent from the initial price of 0.67 Singapore cent, and the number of consideration shares would be adjusted to 747.26 million shares. This was after a conversion of S$1 million of convertible bonds into 250 million conversion shares on Dec 6. Tantalum Holding owns 100 per cent of Tantalum Rare Earth Malagasy, which has a permit to explore and develop a concession hosting critical rare earth elements in Madagascar. Under amended terms of the Tantalum acquisition, ISR was to issue 674.78 million of its own shares to REO Magnetic at 0.67 Si...

Chinese shipping firm Cosco Shipping International (Singapore) has hit the 90 per cent compulsory acquisition mark for its $1.02-a-share cash offer for Cogent Holdings. As at 5pm on Thursday, Cosco had received valid acceptances representing around 5.68 per cent of the total number of Cogent shares, the company said. Cosco had previously received irrevocable undertakings by four Cogent shareholders, who collectively hold 84.33 per cent of the total number of Cogent's shares. Since this brings Cosco's total holdings to 90.01 per cent, Cosco said that it will pursue a delisting of Cogent from the Singapore Exchange. The four undertaking shareholders are Cogent's executive chairman Tan Yeow Khoon, his wife Ng Poh Choo, managing director Tan Yeow Lam, and executive director and chief executive Benson Tan Min Cheow, all of whom had agreed to accept the offer on or before Jan 3 next year. Cosco's offer price represents some 31/2 times Cogent's net tan...

ISR Capital has announced that due to a change in its issued share capital, the total consideration for its deal with REO Magnetic will be lowered to S$2.99 million from S$4.52 million. In a filing with the Singapore Exchange (SGX), ISR said that the consideration price per share for the deal with REO - which would see ISR take an aggregate stake of 60 per cent in Mauritian company Tantalum Holding - would be adjusted to 0.4 Singapore cent from the initial price of 0.67 Singapore cent, and the number of consideration shares would be adjusted to 747.26 million shares. This was after a conversion of S$1 million of convertible bonds into 250 million conversion shares on Dec 6. Tantalum Holding owns 100 per cent of Tantalum Rare Earth Malagasy, which has a permit to explore and develop a concession hosting critical rare earth elements in Madagascar. Under amended terms of the Tantalum acquisition, ISR was to issue 674.78 million of its own shares to REO Magnetic at 0.67 Si...

Chinese shipping company Cosco Shipping International (Singapore) has hit the 90 per cent compulsory acquisition mark for its S$1.02-a-share cash offer for Cogent Holdings. As at 5pm on Dec 21, Cosco has received valid acceptances representing around 5.68 per cent of the total number of Cogent shares, the company said. Cosco had previously received irrevocable undertakings by four Cogent shareholders, who collectively hold 84.33 per cent of the total number of Cogent's shares. Since this brings Cosco's total holdings to 90.01 per cent, Cosco said that it will pursue a delisting of Cogent from the Singapore Exchange. The four undertaking shareholders are Cogent's executive chairman Tan Yeow Khoon, his wife Ng Poh Choo, managing director Tan Yeow Lam, and executive director and chief executive Benson Tan Min Cheow, with all four agreeing to accept the offer on or before Jan 3, 2018. Cosco's offer price represents some 3 1/2 times Cogent's net tang...