MAS IMPOSES COMPOSITION AMOUNT OF $5,000 ON EVRAZ GROUP S.A. FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME

                 


1       On 20 July 2011, Evraz Group S.A. ["Evraz"] paid a composition amount of $5,000 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of changes in their shareholdings.

2       Evraz failed to notify SGX-ST of the change in its deemed shareholdings in Delong Holdings Ltd ["Delong"] which took place on 18 February 2008.  Evraz was also late in notifying SGX-ST of the change in its deemed shareholdings in Delong Holdings Ltd ["Delong"] which took place on 4 December 2009.  In addition, Evraz had not notified Delong of the above-mentioned changes within the stipulated timeframe on both occasions.  As a result, Delong was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.


Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.

Last Modified on 26/11/2016