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- Jul 25, 2008
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Russian billionaire and Chelsea Football Club owner Roman Abramovic ever got fined $7,500 by the Monetary Authority fo Singapore in July 2011.
That is just some loose change in his pockets for him.
[h=1]MAS IMPOSES COMPOSITION AMOUNT OF $7,500 ON MR ROMAN ABRAMOVICH FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME[/h]
[FONT=Verdana, Helvetica]1 On 27 July 2011, Mr Roman Abramovich ["Mr Abramovich"] paid a composition amount of $7,500 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.[/FONT]
[FONT=Verdana, Helvetica]2 Mr Abramovich failed to notify SGX-ST of the changes in his deemed shareholdings in Delong Holdings Ltd ["Delong"] which took place on 18 February 2008 and 4 December 2009. Mr Abramovich also failed to notify Delong of the above-mentioned changes. As a result, Delong was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.[/FONT]
That is just some loose change in his pockets for him.
[h=1]MAS IMPOSES COMPOSITION AMOUNT OF $7,500 ON MR ROMAN ABRAMOVICH FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME[/h]
[FONT=Verdana, Helvetica]1 On 27 July 2011, Mr Roman Abramovich ["Mr Abramovich"] paid a composition amount of $7,500 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.[/FONT]
[FONT=Verdana, Helvetica]2 Mr Abramovich failed to notify SGX-ST of the changes in his deemed shareholdings in Delong Holdings Ltd ["Delong"] which took place on 18 February 2008 and 4 December 2009. Mr Abramovich also failed to notify Delong of the above-mentioned changes. As a result, Delong was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.[/FONT]
