Noble Group Ltd has announced that on 30 November 2018 it established a wholly-owned subsidiary, Spinel Investments Ltd, in the Cayman Islands, the principal business of which is investment holding.
As at the date of incorporation, the issued and paid up share capital and the net tangible asset value and book value Spinel is US$1.00 comprising 1 share at US$1.00 each. The establishment was satisfied by cash and funded by internal resources.
The above transaction does not amount to a discloseable transaction for the purposes of Chapter 10 of the listing manual of the Singapore Exchange Securities Trading Ltd.
Read the article online at: https://www.drybulkmagazine.com/special-reports/03122018/noble-group-establishes-wholly-owned-subsidiary/