[theold]

Under the agreement, Sembmarine will undergo an internal restructuring exercise with shareholders exchanging their shares for shares in the new holding company on a one-for-one basis. The mainboard-listed company will then transfer its listing status to this new entity.

Keppel O&M, on the other hand, will sell its legacy rigs and associated receivables to an asset company that will be 10 per cent-owned by Keppel and 90 per cent-owned by other investors, and transfer other assets to Keppel. It will pay $500 million cash to Keppel.

On the completion of the deal, Keppel and its shareholders will own 56 per cent of the combined entity, with Sembmarine shareholders owning the rest.


https://www.straitstimes.com/business/co...ial-merger

[Blin]

SM Trading halted. at 0.139

[theold]

SM Trading halted. at 0.139

Yesterday queued at 0.139 but deal not done and expired. It is expected to rise further over the next few quarters but it is too far away.

[hansamu]

Yesterday queued at 0.139 but deal not done. It is expected to rise further over the next few quarters but it is too far away.

Still in the red, no dividend. 
Keppel certainly more viable,  a better investment.

[theold]

Still in the red, no dividend. 
Keppel certainly more viable,  a better investment.

[Yin yang]

So many new millionaires created for those who invested big in SM..

[Cmpunk]

But will it go up after news announced?

[theold]

Still in the red, no dividend. 
Keppel certainly more viable,  a better investment.

Left and Right pockets. But sometimes there are some loose change for people to pick.

[lvlrsSTI]

Good for Semb Marine