Sembmarine: Shareholders were not misled in any way

WE refer to the article published in The Business Times on Oct 4, 2021, titled "Sembmarine revised statement of directors' intent to subscribe to rights issue after EGM".

Your writer did not disclose fully the company's response to his question. We have set out the company's response to your writer below so that your readers are fully informed.

In the company's circular of Aug 4, 2021, the statement on directors' intentions followed the language in the corporate governance advisory committee statement on director disclosures in rights issues (issued in September 2020) which recommends that "for good corporate governance, companies should disclose whether the directors intend to subscribe to their rights entitlement".