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Post by oldman on Apr 2, 2014 20:09:17 GMT 7
Looks like another one involved....
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MAGNUS ENERGY GROUP LTD. (Incorporated in Singapore) (Registration No. 198301375M)
ASSISTANCE WITH INVESTIGATIONS
The Board of Directors of Magnus Energy Group Ltd. (the “Company”) wishes to announce that MEG Global Ventures Pte. Ltd. (“MGV”), APAC Coal Limited (“APAC”), subsidiaries of the Company, and Wallmans Limited (“Wallmans”), its former subsidiary, have received Notices dated 2 April 2014 from the Commercial Affairs Department of the Singapore Police Force (“CAD”) requiring MGV, APAC and Wallmans’ assistance with the CAD’s investigations into an offence under the Securities and Futures Act, Chapter 289 (the “SFA”). The CAD has requested for access to, all corporate electronic data, information technology equipment and data storage devices belonging to Mr Koh Teng Kiat, the Executive Director of the Company and Mr Luke Ho Khee Yong, the Chief Financial Officer of the Company and all other relevant documents from 1 January 2011 to date.
The business and operations of the Company are not affected by the investigations and will continue as normal.
The Company will monitor the progress of the investigation and make such further announcements as required.
By Order of the Board Magnus Energy Group Ltd.
Lim Kuan Yew Managing Director 2 April 2014
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Post by oldman on Apr 5, 2014 5:00:43 GMT 7
ASSISTANCE WITH INVESTIGATIONS
Further to the Company’s announcement dated 2 April 2014, the Board of Directors of Magnus Energy Group Ltd. (the “Company”) wishes to announce that Mr Koh Teng Kiat (“Mr Koh”), the Executive Director of the Company and Mr Luke Ho Khee Yong (“Mr Ho”), the Chief Financial Officer of the Company have received notices from the Commercial Affairs Department of the Singapore Police Force (“CAD”) requiring them to assist with investigations in relation to an offence under the Securities and Futures Act (Chapter 289) (the “SFA”). Mr Koh and Mr Ho have indicated that they will cooperate fully with CAD in its investigations.
Pursuant to the notices from CAD, Mr Koh and Mr Ho were requested to provide CAD with access to the following for the period from 1 January 2011 to date – all records pertaining to securities trading and accounts held with financial institutions, all personal and corporate electronic data, all personal and corporate information technology equipment and data storage devices (and the passwords for access thereto), and any other relevant documents. They have been interviewed by CAD in relation to its investigations and their passports have been impounded.
Each of Mr Koh and Mr Ho has also been notified that in the course of police investigations into the offence of false trading and market rigging under Section 197 of the SFA, there have arisen reasonable grounds for believing that he has committed an offence.
CAD has not provided the Company any further details of its investigations. Until such time that the outcome of the investigations is known, Mr Koh and Mr Ho shall continue to serve the Company in their respective capacities.
The Company will monitor the progress of the investigations and make such further announcements as required.
By Order of the Board
Magnus Energy Group Ltd.
Lim Kuan Yew Managing Director 4 April 2014
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Post by zuolun on Sept 13, 2014 14:35:13 GMT 7
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Post by odie on Sept 13, 2014 19:13:19 GMT 7
this may affect him being a director
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Post by oldman on Sept 13, 2014 19:41:29 GMT 7
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Post by zuolun on Sept 14, 2014 11:35:08 GMT 7
Took a quick look at the company. I don't quite understand. Company has cash of $20 mil in its latest FY report with borrowings of $1 mil. Not sure why it still proposed an issue of up to $35 mil in convertible notes of this variety...... Magnus Energy — Bull Trap, to retest S$0.011 interim TP S$0.008 
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