Triton Investments along with Polaris Nine Projects are paying SGD0.0004 per share for the 80.77% stake from Morton Bay (Holdings). The deal has triggered a mandatory takeover offer for all outstanding shares in Japser.
The takeover offer also priced SGD0.0004 per share, a 93.33% discount over the last traded price of SGD0.006 per share.
Triton Investments is controlled by Steven Simpson, who has requested to become chairman of Jasper following the takeover. Simpon was non-executive chairman of Jasper between July 2010 and July 2012. He is also an independent director of Chemoil Energy.
The new majority owners plan to maintain the listed status of the company and its business. In the offer statement they said they, “have identified certain possible opportunities involving vessel management and operations relating to the provision of barge transportation services in connection with infrastructural works in the North Asian region and are in advance discussions with the project principal”.
Jasper’s shares were trading SGD0.001 down at SGD0.005 following announcement of the offer.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
