Latest news with #prospectus
CNA
03-06-2025
- Business
- CNA
Singaporean businessman David Yong from Netflix's Super Rich In Korea handed fresh charge
SINGAPORE: Businessman David Yong was on Tuesday (Jun 3) given a new charge over making offers of securities without a prospectus. Yong, the 38-year-old CEO of multinational business and holding company Evergreen Group Holdings, now faces a total of five charges, the police said. In the latest charge, which falls under the Securities and Futures Act 2001, the Singaporean, whose full name is Yong Khung Lin, is accused of consenting to the offering of promissory notes by Evergreen GH between July 2023 and July 2024. This offering allegedly did not comply with the requirements of the Act, which states that any offer of securities must be made in or accompanied by a prospectus that is lodged with and registered by the Monetary Authority of Singapore (MAS), unless an exemption has been granted. A total sum of more than S$61 million (US$45.1 million) was raised from the issuance of over 1,000 promissory notes that promised annual interest of 10 per cent, according to the police. If convicted of making offers of securities without a prospectus, he could face two years' jail, a fine of up to S$150,000 or both. As Yong's latest charge is amalgamated to account for all the promissory notes offered and issued, he may be liable to two times the amount of punishment if found guilty. Yong's four other charges involve abetting others to falsify papers belonging to Evergreen GH with intent to defraud. These relate to tax invoices over the sale of furniture, interior design services, or household fittings and appliances, and financial statements belonging to Evergreen GH. If convicted of abetting the falsification of invoices, he faces up to 10 years' jail, a fine, or both, for each charge. Yong is due in court for a pre-trial conference on Thursday. He was first charged on Aug 3, 2024 and has been out on bail of S$1 million. Yong has made three unsuccessful bids to leave Singapore. In March, he failed in his third bid, after a court deemed him a "serious flight risk". On Feb 19, Yong's second application to leave the country was rejected by District Judge Brenda Tan, who also presided over the hearing in March. In August last year, Yong's application to go to Japan was denied after the court deemed that his presence there was not necessary and that he had access to substantial funds there, increasing his flight risk. He has appeared on the Netflix show Super Rich in Korea, which showcases the lifestyles of extremely affluent people who set up base in Korea. In the show, Yong has said he is part of "Singapore's top 1 per cent super rich".
Globe and Mail
23-05-2025
- Business
- Globe and Mail
Off-market insider buying at Alta Copper (ATCU)
Nascent Exploration Pty Ltd., a 10% Holder, acquired 2,941,176 Common Shares on a direct ownership basis at a price of $0.510 through a prospectus or prospectus exempt offering on May 17th, 2025. This represents a $1,500,000 investment into the company's shares and an account share holdings change of 9.6%. Let the insiders guide you to opportunity at
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Off-market insider buying at Blue Star Gold (BAU)
Georg Pollert, a Director and 10% Holder, acquired 29,500,000 Common Shares on a direct ownership basis at a price of $0.100 through a prospectus or prospectus exempt offering on May 9th, 2025. This represents a $2,950,000 investment into the company's shares and an account share holdings change of 48.6%. Let the insiders guide you to opportunity at
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Pet Valu Holdings Ltd. Announces C$150 Million Secondary Bought Deal Offering
Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+ /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
Argaam
12-05-2025
- Business
- Argaam
SMC issues supplementary prospectus with Tawuniya as cornerstone investor
Specialized Medical Co. (SMC) issued a supplementary prospectus, disclosing that it received a binding commitment from The Company for Cooperative Insurance (Tawuniya) to subscribe as a cornerstone investor for 5.875 million shares in the offering, representing 2.35% of the company's post-offering share capital. According to the supplementary prospectus, the company has approved the allocation of these shares to Tawuniya as part of the offering process.
