SGX RegCo investigating Magnus Energy disposal
It's looking into possible breaches of the Catalist rules after Magnus' sale of interest in firm
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Janice Heng
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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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