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Teho International to distribute vendors shares as part of settlement
CATALIST-LISTED oil and gas-related company Teho International is assisting with a distribution of up to 53,714,286 issued shares to its shareholders, as part of a settlement agreement entered into in January last year.
The shares are held by two vendors of shares in TIEC Holdings. In 2017, Teho had claimed damages against the two vendors over a breach of duties towards TIEC, while they were directors of TIEC. An out-of-court settlement was reached in January last year.
Teho shares last changed hands at S$0.028 on Dec 26 last year.