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SIC rules in favour of UOL on certain trades by UOBAM

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Published Wed, Aug 23, 2017 · 09:50 PM

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Singapore

UOL Group Limited said it has alerted the Securities Industry Council of Singapore (SIC) of certain trades on its shares by UOB Asset Management Ltd (UOBAM), which resulted in a breach of condition under an application to SIC for a whitewash waiver.

The application to SIC was to waive Haw Par Corporation's obligation to make a mandatory offer for UOL arising from a share swap agreement in June.

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