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Oceanus completes restructuring, proposes move to Catalist

Abalone producer says Catalist a more suitable platform for its shares and for attracting investors

Published Thu, Sep 3, 2015 · 09:50 PM

Singapore

LOSS-MAKING abalone producer Oceanus Group is seeking to move from the Singapore Exchange (SGX) mainboard to the junior Catalist board and is in talks with a potential sponsor, it said on Thursday.

It announced this several hours after saying that it had completed the restructuring of about S$64.4 million of loans and almost three billion warrants, marking a significant step on its rocky road to recovery after the unnatural deaths of millions of its abalones three years ago.

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