ISR Capital spurns SGX request to seek shareholder nod for waiver of condition for acquisition

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SINGAPORE (Jan 3): ISR Capital has rejected a call by Singapore Exchange for the company to seek shareholder approval for the waiver of a condition precedent to its acquisition of a Madagascar mining asset.

In a Wednesday night response, ISR insisted shareholder approval was not required as the waiver was not prejudicial to the interest of the shareholders and would not have an adverse impact on the company and the potential development or operation of the commercial production of the target company and the mining asset.

ISR is acquiring a 60% stake in Tantalum Holding (Mauritius) (THM) which owns 100% of Tantalum Rare Earth Malagasy SARLU (TREM), which in turn...(click on link for full story on