Fri, Mar 16, 2018 – 6:39 PM
MAINBOARD-listed aluminium dealer Compact Metal Industries has brought back an old plan to transfer its listing status, in a fresh agreement inked on Friday.
The proposed internal restructuring would see Compact Metal enter a scheme of arrangement to shift its shares – and listing status – to International Cement Group, an investment holding company owned by executive directors Ma Zhaoyang and Zhang Zengtao, and set up for just such a deal.
All ordinary shares would be transferred to an International Cement unit, and each shareholder would be entitled to a new share in International Cement for every share transferred.
The move would turn Compact Metal into an indirect, wholly owned subsidiary of Internationa…
Read the full article at: https://www.businesstimes.com.sg/companies-markets/compact-metal-revives-2015-restructuring-plan-to-trade-as-cement-dealer