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Loyz says reviews strategic options regularly as share price climbs in active trade

Thursday, June 1, 2017 - 14:05

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A staggering 101 million shares changed hands, making Loyz the most actively traded stock on the Singapore Exchange.

LOYZ Energy said on Thursday that it reviews its strategic options on an ongoing basis following a 5 per cent jump in its share price.

At 01:52pm, Loyz was trading around S$0.020 a share, up S$0.001, or 5.263 per cent. A staggering 101 million shares changed hands, making Loyz the most actively traded stock on the Singapore Exchange.

The energy-related company said that as part of the regular reviews, it also holds discussions with a range of parties regarding "possible transactions in relation to, among others, including mergers and acquisitions''.

It cautioned that no definitive agreements have been entered into by the group.

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For the third quarter ended March 31, 2017, Loyz reported a net profit of US$299,000, compared to a net loss of US$23.357 million a year ago. The turnaround came on the back of improved revenue, which grew to US$2.410 million, from US$1.805 million a year ago. Revenue rose as a result of higher average oil price of US$48.05 per barrel during the quarter, compared to US$24.75 per barrel a year ago.

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