[ad_1]
Thu, Oct 25, 2018 – 8:45 AM
VARIOUS substantial shareholders of MMP Resources have entered into a non-binding term sheet to sell their shares to Lloyds Energy Ltd., the board of the mainboard-listed construction company announced on Thursday before the market opened.
Dubai-based Lloyds Energy and the major shareholders are in the process of negotiating and finalizing the agreement, MMP Resource's board said.
"The acquisition of such shares by Lloyds Energy may have resulted in a general obligation being made by Lloyds," MMP Resources said, adding that the result could be more than 30 per cent of the company's shares. Singapore would take over and mergers code.
Lloyds Energy is a "gas to wire" liquefied natural gas (LNG) player, linking major international gas suppliers and gas consumers. It engages in the production, storage and sale of LNG.
MMP Resources said Lloyds Energy will be consulting with the Monetary Authority of the Singapore Securities Industry Council if required.
"MMPs are not a certainty that Lloyds Energy and the MMP will not be in a position to Resources said.
[ad_2]
Source link
