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Swiber seeks legal advice on UK investment company’s delay in US$200 mil preference share subscription

Michelle Zhu Published on Mon, Jul 11, 2016 / 10:42 AM GMT+8

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SINGAPORE (July 11): Swiber Holdings is currently seeking legal advice regarding the delay of a proposed preference share subscription.

In a Monday note, the offshore and marine company says its wholly-owned subsidiary, Swiber Investment Limited (SIL), entered into a preference shares subscription agreement on June 9 with UK equity firm AMTC Ltd.

The agreement was to allot and issue 1,000 preference shares which AMTC was to subscribe for an aggregate subscription price of US$200 million ($270 million).

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Swiber seeks legal advice on UK investment company’s delay in US$200 mil preference share subscription