Salamander Energy Updates on SONA Transaction
Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area. Salamander had announced on July 21 the signing of an agreement under which Sona Petroleum Berhard (SONA) would acquire an effective 40% working interest in the B8/38 concession (containing the Bualuang oil field) and the surrounding G4/50 concession, both located in the Gulf of Thailand (together the Transaction). Salamander understands that SONA is expecting to receive clearance from the Malaysian Securities Commission ("MSC") in the coming weeks.
Reports: Brazilian Tycoon Batista Investigated For Financial Crimes
Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday. If the police probe leads to criminal charges against Batista, it would be yet another major blow for a businessman once hailed as Brazil's model entrepreneur and symbol of its economic success. Batistas EBX oil, mining and logistics empire, which two years ago was valued at $60 billion, collapsed last year in a mountain of debt and massive filings for bankruptcy protection. A week ago, Brazil's securities commission…
CP Ships Reports on Trading Investigation
and chaired by Peter Dey has completed the previously announced investigation into stock trading activities in May and June of this year (2004) by certain officers of the company. investigation addresses, among other things, issues raised in an August 2004 letter from the Ontario Securities Commission concerning these stock trading activities. The Special Committee found that trading in shares of the Company by certain officers in that period should not have taken place. applicable securities laws. It also noted that the trading was done openly and with required internal trading approvals. The Special Committee has requested that the individuals involved, including Chairman Ray Miles, make appropriate restitution to the Company in respect of such trading activity.
Nepline to Buy Tankers
Nepline is purchasing four aframax tankers, reports said. The company is looking to purchase two new as well as two second-hand aframax tankers. Plans to buy the tankers will likely be announced by year-end, the source said, adding that Nepline will finance the purchase by issuing up to RM170 million Islamic bonds. In August, Nepline informed Bursa Malaysia that the Securities Commission had approved the proposed issuance of Sukuk papers by Nepline SPV Sdn Bhd, a wholly-owned subsidiary of the company. The papers carry a tenure of between one and 10 years, Nepline said in the statement to Bursa Malaysia. source: Business Times
