No conflict of interest? ISR's stand on adviser's role puzzling
THE board of ISR Capital is making a mockery of the notion of conflict by insisting that there is no issue with taking deal advice from someone who also sits on the opposite side of the table.
In reply to pointed queries by the Singapore Exchange (SGX), ISR revealed on Sunday night that Timothy Morrison, a partner of Empire Capital Partners, is also a director of REO Magnetic, the company from which ISR has agreed to buy a 60 per cent stake in a Madagascar rare earths miner in exchange for ISR shares.
Empire Capital Partners also happens to be advising ISR on the deal with REO, which has yet to be completed. …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Volkswagen workers vote decisively to unionise in Tennessee
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030