Blumont's new investor to buy 135m shares
[SINGAPORE] Blumont Group has appointed Alexander Molyneux as its chairman designate with effect from yesterday.
The move came after Mr Molyneux, in cooperation with Pacific Advisers, agreed to buy 135 million Blumont shares, representing about 5.2 per cent of the total shares outstanding, post rights issue. The indicative acquisition price will be 40 cents per share, subject to price adjustments.
The final acquisition price will be the volume weighted average price of Blumont's shares between the date of the agreement and closing of the transaction subject to a floor price of S$0.20 per share and a ceiling price of S$0.60 per share. Closing is expected to take place within 30 days.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
OCBC makes S$1.4 billion offer to delist Great Eastern
OCBC Q1 profit rises 5% to S$1.98 billion
Brokers’ take: Analysts positive on Aims Apac Reit’s prospects; trim targets on lower earnings estimates
Singapore stocks open lower on Thursday; STI down 0.3%
ARA H-Trust to sell 2 Hyatt House hotels for US$31 million
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture