Corporate digest

Singtel

FORMER McKinsey global managing partner Dominic Barton, 56, joined Singtel's board as an independent director on Monday. "The diversity of his experience will be invaluable as Singtel's digital transformation takes the group into businesses and partnerships that cut across multiple industries," chairman Simon Israel said in a statement.

LionGold Corp

CATALIST-LISTED gold miner LionGold Corp has agreed to terminate a bond subscription deal with its controlling shareholder Premier Equity Fund Sub Fund E. LionGold could pay a termination fee of S$500,000 in cash and issue some S$500,000 worth of share options - over the termination of 2.5 per cent redeemable convertible bonds - under agreements on Monday involving the sub-fund and its manager, Value Capital Asset Management. Shareholders will be asked to vote on the plan at a special general meeting that has yet to be convened.

New Silkroutes Group

A SUBSIDIARY of New Silkroutes Group (NSG) sold its entire stake in International Energy Group (IEG) for US$10 million in cash, the group said on Monday. Following the disposal, the company will become a full-fledged healthcare group.

The purchaser, TK Energy, will extend a loan of US$10 million to NSG, which will be deemed repaid in full when the disposal is completed. It will also make available to IEG credit facilities of up to US$250 million. NSG will convene an extraordinary general meeting to seek shareholders' approval for the proposed disposal.