Sembmarine revised statement on directors' intent to subscribe for rights issue after EGM

FEEDBACK from readers is sometimes encouraging, and sometimes crushing. But some of the reader feedback I have received in the course of covering Sembcorp Marine's controversial S$1.5 billion rights issue has also been quite useful.

Just over a week ago, one reader complained to me that Sembmarine had, among other things, not properly disclosed the intentions of its directors with respect to their rights entitlements.

The reader pointed out that Sembmarine's rights issue circular dated Aug 4 stated in Paragraph 12.2 that "the directors who have interests in the shares have indicated to the company that they intend to subscribe to their rights entitlements, in accordance with the terms and conditions of the rights issue".