Request for Suspension::Mandatory

Issuer & Securities

Issuer/ Manager
Note: In line with current market practice, all securities related to the trading counter have also been similarly suspended.

Announcement Details

Announcement Title
Request for Suspension
Date &Time of Broadcast
23-Aug-2019 17:19:02
Announcement Reference
Submitted By (Co./ Ind. Name)
Luke Ho Khee Yong
Chief Executive Officer
Narrative Type
Narrative Text
Additional TextThe Board of Directors of Magnus Energy Group Ltd (the "Company") refers to the request for suspension made on 22 August 2019 and the announcement in relation to the release of the External Review report made on 23 August 2019 (the "External Review Report Announcement").
Additional TextCapitalised terms used herein shall have the definitions ascribed to them in the External Review Report Announcement, unless otherwise stated or the context otherwise requires.
Additional TextThe Company is addressing the matters raised in the External Review report issued by Provenance Capital and responding to further queries raised by the Sponsor in relation to those matters.
Additional TextTrading of the shares of the Company will continue to be suspended until such matters have been sufficiently addressed by the Company.

The Company will make further announcements as and when there are material developments on the abovementioned matters.
Additional TextThis announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte Ltd (the "Sponsor").
Additional TextIt has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
Additional TextThe contact person for the Sponsor is Mr Bernard Lui.
Tel: 6389 3000

Event Dates

Effective Date and Time of the Event
With Immediate Effect

DISCLAIMER: This announcement was prepared and issued by the named Issuer/ Manager to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNet for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the named Issuer/ Manager directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement.