PETALING JAYA: Scomi Group Bhd has pledged 206.04 million shares in Scomi Energy Services Bhd shares as part of its settlement with Malayan Banking Bhd (Maybank).
The group said in a stock exchange filing today that the two parties have agreed to a settlement of Maybank’s demand for RM113.96 million.
On Monday, the group announced the proposed liabilities settlement, along with a share capital reduction, share consolidation and rights issue of shares with warrants to raise up to RM214 million.
The default arose due to failure by Scomi’s indirect wholly owned subsidiary Scomi Rail Bhd (SRB) to pay the amount due to Maybank for banking facilities granted to SRB.
Scomi had on May 27, agreed with Maybank, a settlement sum of RM38 million to be paid to Maybank in satisfaction of all Scomi’s liabilities and obligations, comprising RM23 million cash settlement to be settled via the proceeds from the proposed rights issue of shares with warrants and RM15 million via the issuance of new consolidated shares.
Scomi’s share price tumbled 26.67% to 5.5 sen on 29.55 million shares traded today, making it one of the top actively traded stocks on the bourse.
from Business http://bit.ly/2W8eTX3
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