SGX RegCo investigating Magnus Energy disposal
It's looking into possible breaches of the Catalist rules after Magnus' sale of interest in firm
Singapore
THE Singapore Exchange's regulatory arm (SGX RegCo) on Friday notified Catalist-listed Magnus Energy Group to put on hold all corporate transactions until its board is fully reconstituted, and said it would investigate a disposal by the firm for possible breaches of the Catalist rules.
Magnus Energy is set to convene an extraordinary general meeting (EGM) on Jan 9 as two teams seek shareholders' support for boardroom control of the troubled oil and gas firm. In a Dec 31 update, the firm said that "all planned actions are expected to be taken only after the EGM".
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