Re: Sembcorp Marine
Posted: Thu Aug 06, 2020 12:46 pm
not vested
Sembcorp, Sembmarine urge investors to vote in favour of demerger
by UMA DEVI
SEMBCORP Industries (SCI) and Sembcorp Marine (SMM) are calling on their shareholders to vote in favour of the proposed S$2.1 billion recapitalisation for the offshore and marine engineering group and a demerger from each other that will result in Temasek Holdings having a direct stake in the marine arm.
Source: Business Times
https://www.businesstimes.com.sg/compan ... f-demerger
Sembcorp, Sembmarine urge investors to vote in favour of demerger
by UMA DEVI
SEMBCORP Industries (SCI) and Sembcorp Marine (SMM) are calling on their shareholders to vote in favour of the proposed S$2.1 billion recapitalisation for the offshore and marine engineering group and a demerger from each other that will result in Temasek Holdings having a direct stake in the marine arm.
At the upcoming EGMs on Aug 11, shareholders will vote on three resolutions:
1. SCI's move to distribute its SMM shares in specie
2. SMM's undertaking of the rights issue and
3. A whitewash resolution that will waive investors' rights to receive a mandatory takeover offer from Temasek.
All three resolutions require a simple majority, but are inter-conditional.
Source: Business Times
https://www.businesstimes.com.sg/compan ... f-demerger