Directors should disclose intent on rights issue: CGAC
Singapore
DIRECTORS of listed companies should disclose whether or not they intend to subscribe to a rights issue by their company, the Corporate Governance Advisory Committee (CGAC) said on Wednesday.
The independent committee noted that the mainboard listing rule requires a company which intends to make a rights issue to provide a statement from its directors on why the issue is in the interest of the company and their basis for forming such views.
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