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.