FINWIRES · TerminalLIVE
FINWIRES

OFX Group Says Unaware of Information Explaining Recent Share-Price Fall

By

OFX Group (ASX:OFX) said it was not aware of any undisclosed information that could explain the recent decline in its share price to an intraday low of AU$0.61 on Wednesday from AU$0.75 on Tuesday, alongside a significant increase in trading volume, according to its response to an Australian Securities Exchange price query filed with the Australian bourse on Wednesday after market hours.

The company said discussions over the proposed all-cash acquisition by Equals Group remained ongoing following confirmatory due diligence, with negotiations underway to potentially extend the exclusivity period set to expire on Friday, per the filing.

The company said it intended to update the market by that date, confirming that it was complying with its continuous disclosure obligations.

What else is happening in Asia?

Asia

Shenzhen Megmeet Electrical Buys Out 46.3% Stake in Subsidiary

Shenzhen Megmeet Electrical (SHE:002851) will purchase the remaining 46.3% stake it does not own in subsidiary Shenzhen Megmeet Welding Technology for 663.6 million yuan, according to a Wednesday filing with the Shenzhen bourse.Following the sale of the stakes of 46 shareholders, the listed company will fully own the subsidiary.

SHE:002851
Asia

Zhejiang Wanliyang Appoints CFO

Zhejiang Wanliyang (SHE:002434) appointed Shi Yuqiong as chief financial officer after Zhang Leigang resigned from the top financial role due to a change in work responsibilities, according to a Shenzhen bourse filing on Wednesday.Shi's appointment came into effect on Tuesday. The term runs through the end of the current board's tenure.Qian Shouguang was also appointed head of the internal audit department after the previous department head resigned, the filing said.Shares of the Chinese auto transmission systems manufacturer fell over 2% in recent trade.

SHE:002434
Asia

Carimin Petroleum Raises Stake in Sealink International to 25.3%

Carimin Petroleum (KLSE:CARIMIN) acquired a 5.8% stake in Sealink International (KLSE:SEALINK) for 9.9 million ringgit in cash, according to a Tuesday filing with Bursa Malaysia.The acquisition involved 29.1 million shares bought at 0.34 ringgit each, between Sept. 18 and Sept. 22.Following the acquisition, Carimin's stake in Sealink rose to 25.3% from 19.5%, making Sealink an associate company.Carimin Petroleum said the acquisition was part of its ongoing investment strategy.The deal was funded through internally generated funds and does not require shareholder or regulatory approval, the filing said.

KLSE:CARIMINKLSE:SEALINK