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http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1240795/1/.html
(Posted: 03 December 2012 1539 hrs)
SINGAPORE - Singapore-based commodities trader Olam International requested on Monday a trading halt in its shares on the Singapore Exchange (SGX) for one day pending the release of an announcement.
"Olam is expecting to announce an initiative led by the company involving its shareholders," it said in a filing to SGX, adding that the trading halt will be lifted before the stock market opens on Tuesday.
The move comes as Olam tussles with short seller Carson Block over claims that Olam faces insolvency.
Muddy Waters, a research firm owned by Mr Block, has criticised Olam in recent weeks for alleged flaws in the Singapore-listed firm's business and accounting practices, prompting the commodities trader to mount a concerted defence against the accusations.
(Posted: 03 December 2012 1539 hrs)
SINGAPORE - Singapore-based commodities trader Olam International requested on Monday a trading halt in its shares on the Singapore Exchange (SGX) for one day pending the release of an announcement.
"Olam is expecting to announce an initiative led by the company involving its shareholders," it said in a filing to SGX, adding that the trading halt will be lifted before the stock market opens on Tuesday.
The move comes as Olam tussles with short seller Carson Block over claims that Olam faces insolvency.
Muddy Waters, a research firm owned by Mr Block, has criticised Olam in recent weeks for alleged flaws in the Singapore-listed firm's business and accounting practices, prompting the commodities trader to mount a concerted defence against the accusations.
