General Announcement::SGX urges caution when dealing in CEFC shares

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
14-Aug-2015 07:54:10
Status
New
Announcement Sub Title
SGX urges caution when dealing in CEFC shares
Announcement Reference
SG150814OTHRSFVR
Submitted By (Co./ Ind. Name)
Carolyn Lim
Designation
VP, Marketing & Comms
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today notes CEFC International Limited s 10 August announcement of a placement of about 705 million shares at $0.35 each. This follows the company s 21 July reply to SGX s public query, saying that it was not aware of any information about the company that was not previously announced, apart from a potential joint venture and related funding, which if known might explain the trading activity in its shares. SGX issued a Trade with Caution warning after CEFC s 21 July reply.

The share placement followed the increase in the price of CEFC shares from $0.034 on 10 July 2015 to $0.3650 on 6 August 2015. During this period, SGX issued 2 public queries to CEFC including the one mentioned above.

SGX reviewed the trading activities in CEFC shares during this period and observed that buying volume was concentrated in a small number of offshore accounts. Together, these accounts accounted for more than 40% of the total traded volume during the period.

SGX is reviewing CEFC s announcement and the trades in its shares, and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market.

Shareholders and potential investors should exercise caution when dealing in the shares of CEFC International Limited.

-End-

Attachments

20150814_SGX_urges_caution_when_dealing_in_CEFC_shares.pdf
Total size =274K