SCI, Sembmarine shareholders approve demerger deal

Sembcorp Marine and Sembcorp Industries (SCI) have announced that the three resolutions were duly approved and passed by the shareholders at the extraordinary general meeting (EGM) held on 11 August, an SGX filing revealed.
T S Tay Public Accounting Corporation was appointed as the scrutineer for the EGM.
In Sembmarine’s Ordinary Resolution, shareholders owning 98.76% of shares voted in favour of the demerge, whilst shareholders owning 87.72% of shares also voted in favour. As for SCI, shareholders collectively holding 99.67% of the firm’s shares also voted for the demerger deal.
As the three resolutions are inter-conditional, this meant that the right issue may now proceed.
This follows after shareholders expressed concerns over what could happen in the event that the two firms were not able to garner shareholder approval. Sembmarine and SCI assured that the deal will unlock shareholder value.
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