Loyz Energy gets new controlling shareholder, revamps board

Singapore

UPSTREAM energy group Loyz Energy on Wednesday said that it is welcoming a new controlling shareholder, and has made strategic changes to its board of directors and management team to enable it to better weather the current challenging environment in the oil-and-gas sector.

Wave Link LP, an existing shareholder of the company, has entered into a sale-and-purchase agreement with Jit Sun Investments, the largest shareholder of Loyz Energy, to acquire an additional 9.85 per cent stake in Loyz Energy from Jit Sun.