OFFSHORE and marine group ASL Marine reversed a previous statement that its controlling shareholders, the Ang family, would subscribe for all of their entitlements under a shareholder rights issue.
In a previous January 26 announcement, Ang Sin Liu, Ang Kok Tian, Ang Ah Nui, Ang Kok Eng, Ang Kok Leong and Ang Swee Kuan had indicated they planned to subscribe in full to their pro rata entitlement of rights warrants. ASL Marine also said the right issue will go ahead based on the authority granted by the share issue mandate passed by shareholders at the group's last annual general meeting on Oct 31, 2018. It had previously said specific approval for the rights issue would be sought from shareholders at an extraordinary general meeting.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: