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7 stories mentioning SGX:5LYUpdated 9d ago

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Asia

Marco Polo Marine Completes Partial Sale of Stake in Subsidiary PKR Offshore to Employees

Marco Polo Marine (SGX:5LY) has completed the sale of a portion of its stake in indirectly-held subsidiary PKR Offshore to some of its key employees, according to a Monday filing with the Singapore Exchange.In April, the company said certain employees are looking to subscribe for 1.3 million shares in PKR Offshore, which specializes in offshore wind farm support, for NT$26.9 million, at an issue price of NT$21 per share.The NT$26.9 million consideration has been paid in full in cash by the subscribers, completing the transaction.Following the completion of the subscription, the company's stake in PKRO has reduced to 46.5% from 49%.

SGX:5LY
Asia

Marco Polo Marine Issues 6 Million Shares Following Options Exercise

Marco Polo Marine (SGX:5LY) issued about 6.0 million new shares at an exercise price of SG$0.067 per share following the exercise of options under its employee share option scheme.The new shares will be listed and quoted on May 29, according to a Thursday filing with the Singapore Exchange.

SGX:5LY
Asia

Marco Polo Marine Issues 1.1 Million Shares Following Options Exercise

Marco Polo Marine (SGX:5LY) issued about 1.1 million new shares at an exercise price of SG$0.067 per share following the exercise of options under its employee share option scheme.The new shares will be listed and quoted on May 21, according to a Wednesday filing with the Singapore Exchange.

SGX:5LY
Asia

Singapore Shares Close Lower Amid Regional Decline; AJJ Medtech Down 17%

Singapore shares incurred losses on Friday, closing in the red zone, amid broader regional declines, weighed down by investor sentiment.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,975.14 and 5,003.18 throughout the day. It ended the session at 4,989.08, down 6.86 points or 0.1% compared to Thursday's close.On the corporate front, shares of AJJ Medtech (SGX:584) crashed nearly 17% at the close as its attributable loss to equity holders widened to SG$563,000 in the first quarter from SG$234,000 a year earlier.Marco Polo Marine (SGX:5LY) shares closed nearly 4% higher as the company agreed with Fuji Offset Plates Manufacturing (SGX:508) for a reverse takeover transaction involving the company's subsidiaries, Marco Polo Shipyard and MP Marine.Meanwhile, Aspial Lifestyle (SGX:5UF) outlined plans to raise around SG$84.8 million in gross proceeds via an equity fund raising.

^STISGX:584SGX:5LYSGX:5UF
Asia

Marco Polo Marine to Streamline Shipyard Business Via Fuji Offset Plates-led Reverse Takeover

Fuji Offset Plates Manufacturing (SGX:508) signed a binding term sheet with controlling shareholder, Marco Polo Marine (SGX:5LY), for a reverse takeover transaction involving the latter's subsidiaries, Marco Polo Shipyard and MP Marine, according to a Friday filing with the Singapore Exchange.The two subsidiaries own and operate Marco Polo's shipyard business, including the Indonesia-based PT Marcopolo Shipyard.The proposed transaction consideration is up to SG$139 million, including a base consideration of SG$120 million and a deferred consideration of up to SG$19 million, structured as an earn-out payment.The consideration will be satisfied through the allotment and issuance of new shares in Fuji Offset at SG$0.701 per share.Meanwhile, Marco Polo is expected to remain the controlling shareholder of Fuji Offset, with a 74.1% stake. However, the stake could rise to 76.8% following the issuance of deferred consideration shares.Following the completion of the transaction, Fuji Offset will be renamed to MPSE Ltd., subject to shareholder approval, and will serve as Marco Polo's listed platform for its shipyard business.Shares of Fuji Offset surged nearly 21% in Friday trading, while shares of Marco Polo were up over 8%.

SGX:508SGX:5LY
Asia

Marco Polo Marine Shares Rise as Fiscal H1 Profit Up 9%

Marco Polo Marine's (SGX:5LY) attributable profit to equity holders rose 9% to SG$11.6 million in the six months ended March 31 from SG$10.6 million a year earlier, according to a Friday filing with the Singapore Exchange.Earnings per share in the fiscal first half came in at SG$0.0031, compared with SG$0.0028 in the year-ago period.Revenue surged 40% year over year to SG$74 million from SG$52.7 million, backed by strong growth across ship chartering and repair operations.Shares of the ship chartering and repair company were up over 3% in Friday trading.

SGX:5LY
Asia

Marco Polo Marine's Key Employees to Subscribe to Shares in PKR Offshore

Marco Polo Marine (SGX:5LY) said certain key employees are looking to subscribe to 1.3 million shares in PKR Offshore for NT$26.9 million, according to a Friday filing with the Singapore Exchange.PKRO is 49% indirectly held by the company and focuses on offshore wind farm support, and is also targeting a listing on the Taiwan bourse.The subscribers will subscribe for PKRO shares at an issue price of NT$21 per share.Following the completion of the subscription, the company's stake in PKRO will reduce to 46.5%.

SGX:5LY

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