SINGAPORE (Yosefardi) – Shares of Asiasons Capital Ltd, which also has an indirect investment in Indonesian retail business, regained 11% to S$0.12 this morning, after plummeted 22.3% Wednesday (Oct 16).
Asiasons, in respect of the proposed acquisition of 27.5% of Class B Units in Black Elk Energy Offshore Operations LLC, had proposed to utilise its general mandate for the issuance of shares.
However the company has received the response of the SGX-ST, viewing that there is insufficient mandate for the issuance of the consideration shares and introducer fee shares from the general mandate of the company.
Then Asiasons said it shall engage with Black Elk and the seller to revisit and re-look the terms and conditions of the proposed acquisition.