Alliance Mineral Assets former CEO and wife demand 7.5 mil compensation shares

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SINGAPORE (Aug 20): Former CEO Tjandra Pramoko and wife and executive director Suen Sze Man are asking Alliance Mineral Assets to issue 3.75 million shares to each as compensation for services rendered in their previous appointments.

(See: Alliance Mineral Assets shares edge lower on share compensation announcement)

(See also: Alliance Mineral Assets CEO Pramoko and wife sacked)

Alliance received a letter from their lawyers after the close of trading on Friday, requesting, among other things, when the company intends to issue the 7.5 million shares in total.

In its response, Alliance emphasised that the proposed issuance of these compensation shares had not been approved by its shareholders at the June 25 EGM, adding that the company is in consultation with its lawyers on the requests and will respond to... (Click here to read the full story)