Sembmarine independent shareholders have deciding say in 'critical' SCI deal

Singapore

SEMBCORP Marine (SMM) has emphasised that its independent shareholders will decide whether a proposed rights issue involving parent Sembcorp Industries (SCI) proceeds.

This is because the independent shareholders will be the only ones voting on a whitewash resolution that is inter-conditional with the rights issue resolution. If the whitewash resolution is not approved, the rights issue will not proceed.