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Stocks to watch: Noble Group, Spackman, Huationg, UOB and Marco Polo Marine
THE following stocks made announcements that could affect their trading on Monday:
Noble Group: Noble, in its public spat with a majority shareholder, has rejected Goldilocks Investment Company's request for Noble to waive the non-disclosure arrangements around their earlier discussions. The battered group, in an announcement on Monday morning, also provided more details about its sale processes for Noble Americas Corp and Noble Americas Gas and Power Corp, and said that its disposals over the last two years have all complied with listing rules and applicable laws.
Spackman Entertainment Group: The Catalist-listed company is launching its own cryptocurrency called Korean entertainment utility tokens - or K Coins - through an Initial Coin Offering (ICO). The K Coins will grant token holders future access to products and services offered by Spackman, such as merchandise, premium content and movie-related events, the company said on Monday morning.
Huationg Global: The civil engineering company and its unit Huationg Contractor have been served with a writ of summons filed in the High Court by a group of similarly-named but unrelated companies. The suit - filed by Huationg Holdings, Huationg Inland Transport Services, Huationg (Asia) and Hua Resources - alleges that some trademarks registered under Huationg Global and its unit are invalid.
United Overseas Bank, Marco Polo Marine: UOB on Friday evening said that it has disposed of its entire 10.29 per cent interest in Marco Polo Marine for S$12.68 million. This comprises about 362.2 million shares at a price of S$0.035 per share. The move comes just a week after the bank announced its acquisition of the stake in the marine logistic group - at the same price - pursuant to a court-approved refinancing and debt restructuring exercise involving the company and some of its subsidiaries.