Corporate digest
Rex International
MALAYSIA-listed Hibiscus Petroleum Berhad's unit Gulf Hibiscus has filed a writ of summons at the Oslo District Court on Oct 11, claiming compensation against Rex International Holding unit Lime Petroleum AS, two of its directors and one of its officers, Rex International announced on Wednesday.
The compensation is being claimed for financial losses suffered by Gulf Hibiscus in connection with Lime Petroleum's restructuring. Lime Petroleum is currently seeking legal advice with respect to the next steps.
Rex International said it will "take all measures necessary to resist and refute these baseless and unmeritorious claims and allegations".
Yangzijiang Shipbuilding
YANGZIJIANG Shipbuilding's indirect subsidiary Yangzijiang Express Shipping Pte Ltd (YZJ Express) has increased its issued and paid-up capital from US$100 to US$7,600,000 by way of an additional share issue and allotment of about 7.6 million ordinary shares of US$1 each.
As a result of the additional share issue, its parent Yangzijiang Shipping Pte Ltd has subscribed for 3.76 million new ordinary shares in YZJ Express, with the remaining interests held by other investors. Its interest in YZJ Express has been diluted from 70 per cent to 49.48 per cent.
Despite the dilution, YZJ Express continues to be the subsidiary of Yangzijiang Shipping Pte Ltd and the group.
Metro Holdings
METRO Holdings has launched and priced S$150 million in 4 per cent notes due 2021, under a S$1 billion multicurrency debt issuance programme established on Oct 4. The notes, in S$250,000 denominations, are expected to be issued on Oct 25 subject to the satisfaction of customary closing conditions, and listed on the Singapore Exchange on the following market day.
ESR-Reit, VIT
IN LINE with the merger of ESR-Reit (real estate investment trust) and Viva Industrial Trust (VIT), both parties on Wednesday announced the payment of the scheme consideration from ESR-Reit to VIT on Oct 17, and the delisting of VIT's stapled securities with effect from Oct 22.
