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Adequate disclosures required for 'death spiral' convertibles: SGX

Shareholders must be informed of the risks and directors must give opinion on proposed deal
Friday, August 26, 2016 - 05:50


COMPANIES that plan to issue "death spiral" convertible bonds must adequately inform shareholders about the risks, and directors must give a fiduciary opinion on a proposed deal, Singapore Exchange (SGX) chief regulatory officer Tan Boon Gin said on Thursday.

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