Financial News - 27 MAY 2010: Keppel Corp - Receipt of Approvals and Eligibility to list for K-Green Trust

Keppel Corp - Receipt of Approvals and Eligibility to list for K-Green Trust (KGT). See report.

Key Points

• the National Environment Agency has approved the holding of Senoko Plant and Tuas DBOO Plant by the Trustee-Manager of KGT.
• the Public Utilities Board has approved the holding of Ulu Pandan Plant by the Trustee-Manager of KGT.
• the Monetary Authority of Singapore has approved the registration of KGT under the Business Trust Act.
• the SGX-ST has today granted a conditional eligibility-to-list for the listing of KGT on the Main Board of the SGX-ST by way of an introduction.
• The Circular in relation to the Proposed Distribution, together with a  notice of the EGM and Closure of Books, as well as the Introductory Document will be despatched to Shareholders in due course. The Company will make further announcements in respect of the Proposed Distribution and the Proposed Listing as and when appropriate.

Author's Note
Just to recap, shareholders of Keppel Corp will receive 1 KGT share as dividend in specie for every 5 Keppel Corp shares, i.e. 200 KGT shares per lot of Keppel Corp shares. The listing will be by way of introduction, so there will not be any IPO for the KGT shares.