Rex International Holding Ltd. (SG:5WH) has released an update.
Rex International Holding Ltd. has reached a confidential settlement agreement with Petroci Holding, conclusively resolving a legal dispute without admitting liability. The settlement will see a transfer of MOL shares to Petroci, altering the shareholding composition, with Petroci’s stake rising to 12.5% and Rex Oman’s decreasing to 81.14%. This adjustment is part of a broader resolution involving the termination of ongoing judicial proceedings in the British Virgin Islands.
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