Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
THE following companies released material announcements either after Friday's close or before the start of trading on Monday morning.
Mandala Energy will invest up to US$179.6 million in a 35 per cent stake in the Lemang Production Sharing Contract (Lemang PSC) from Ramba Energy's subsidiary, PT Hexindo Gemilang Jaya.
Ramba Energy is an Indonesia-focused oil & gas exploration and production company. The Lemang block is located in the northernmost part of the South Sumatra basin, a proven region for oil and gas production.
The sum includes an upfront cash payment of US$26.25 million, sliding-scale future contingent payments based on certification of oil & gas reserves, partial carry for Ramba's share of three exploration wells; and a cash payment upon declaration of the first new exploration discovery.
Under another concurrent agreement, Hexindo shall acquire 15 per cent of Lemang PSC from Eastwin - which currently owns a 49 per cent stake in Lemang PSC. As a result, Hexindo will ultimately retain a 31 per cent per cent stake in Lemang PSC.
Mandala, backed by international investment firm Kohlberg Kravis Roberts & Co (KKR), is a South-east Asia-focused oil & gas exploration and production company. The deal is subject to approval from the Indonesian government.
Catalist-listed Sinocloud has cancelled its proposed acquisition of up to 45.95 per cent of China Satellite Mobile Communications Group, saying that conditions could not be satisfied or waived by the long-stop date of Sept 30.
It is now trying to get back about HK$24.7 million (S$4.56 million) it lent to some of the stake sellers in February 2014 and another HK$19.1 million "goodwill deposit" it gave certain stake sellers in July 2014, according to a Singapore Exchange filing on Friday.
Global Yellow Pages (GYP) has signed a deal to buy a company that handles the retail master franchise and supply chain business for the Wendy's brand of ice-cream in Australia and New Zealand, it said on Friday.
The total purchase price for a 100 per cent stake in Supatreats Asia has not been determined yet but could be up to around A$4.94 million (S$4.98 million). GYP said it may pay for this by issuing shares, using cash or a mix of the two.