ICON (5255) - Icon Offshore CEO and COO released by MACC on RM100,000 bail
April 24, 2015 : 6:22 PM MYT
KUALA LUMPUR (Apr 24): Offshore service vessel player Icon Offshore Bhd announced that its chief executive officer Dr Jamal Yusof and chief operating officer have been released by the Malaysian Anti-Corruption Commission (MACC) on an oral undertaking and RM100,000 bail, with two sureties.
It said it has been notified by legal counsel representing the two that they "have been released by the Suruhanjaya Pencegah Rasuah Malaysia (MACC), subject to an oral undertaking in the sum of RM100,000 by two sureties".
"We will make further announcements should there be any material development on the matter," the group said in a filing with Bursa Malaysia today.
To recap, Icon Offshore had on Wednesday (April 22) announced that its CEO and COO had been remanded by MACC for three days to facilitate and assist in the agency's investigations.
"The company has no details of the nature of the investigations or their status," the group had said in a reply to query by Bursa Malaysia yesterday.
Interestingly, data from the local bourse revealed that Jamal had disposed of some 2 million shares on the day he was remanded for RM1.43 million or 71 sen each.
Icon Offshore's shares have been on a rough ride in the last six months, falling 57.16% in that period to close 2 sen up at 63 sen today, after some 18.56 million shares changed hands. The current price values it at RM741.6 million.
According to Bloomberg, Icon Offshore is currently trading at 9 times its price-earnings.
http://winstocks.blogspot.com
April 24, 2015 : 6:22 PM MYT
KUALA LUMPUR (Apr 24): Offshore service vessel player Icon Offshore Bhd announced that its chief executive officer Dr Jamal Yusof and chief operating officer have been released by the Malaysian Anti-Corruption Commission (MACC) on an oral undertaking and RM100,000 bail, with two sureties.
It said it has been notified by legal counsel representing the two that they "have been released by the Suruhanjaya Pencegah Rasuah Malaysia (MACC), subject to an oral undertaking in the sum of RM100,000 by two sureties".
"We will make further announcements should there be any material development on the matter," the group said in a filing with Bursa Malaysia today.
To recap, Icon Offshore had on Wednesday (April 22) announced that its CEO and COO had been remanded by MACC for three days to facilitate and assist in the agency's investigations.
"The company has no details of the nature of the investigations or their status," the group had said in a reply to query by Bursa Malaysia yesterday.
Interestingly, data from the local bourse revealed that Jamal had disposed of some 2 million shares on the day he was remanded for RM1.43 million or 71 sen each.
Icon Offshore's shares have been on a rough ride in the last six months, falling 57.16% in that period to close 2 sen up at 63 sen today, after some 18.56 million shares changed hands. The current price values it at RM741.6 million.
According to Bloomberg, Icon Offshore is currently trading at 9 times its price-earnings.
http://winstocks.blogspot.com
