Singapore substantial shareholder changes: AusGroup.
AusGroup said Thursday it has been notified by a substantial shareholder with an around 13.32 percent stake that it intends to dispose of its entire shareholding as part of its proposed liquidation.
“The board will be working closely with the substantial shareholder and/or its proposed liquidators to reach out to suitable potential investor(s) in relation to the acquisition of the shareholding,” AusGroup said in a filing to SGX.
According to data from SGX, Ezion Holdings owns 13.32 percent of AusGroup as of 17 September 2021.
In late December, jack-up liftboat charterer Ezion said it was unable to pay its debts, was cash-flow insolvent and was liquidating the company.
A liquidation “ensures an orderly wind down of the affairs of the company under the control of a court-appointed liquidator,” Ezion said in a December filing to SGX. ” It is the most time-efficient and cost-effective manner to realise value from the remaining assets of the company.”
Other substantial shareholders of AusGroup include Asdew Acquisitions, with a 16.99 percent stake as of 9 December, the SGX data showed.
Toh Bee Yong and Poh Boon Kher Melvin hold 11.59 percent and 9.76 percent, respectively, the data showed.