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Shareholders block Capital World from issuing settlement shares

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Published Wed, Jan 30, 2019 · 09:50 PM

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Singapore

MINORITY shareholders of Catalist-listed Capital World have blocked a bid by the integrated property developer to issue 39 million new shares to convertible bondholder Chong Thim Pheng as part of a settlement agreement.

The votes were cast at a shareholder meeting on Monday. Capital World has 1.31 billion issued shares. It proposed the share issuance in November.

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