Noble rejects request to waive non-disclosure arrangements
Noble Group, in its public spat with a majority shareholder, has rejected Goldilocks Investment Company's request for Noble to waive the non-disclosure arrangements around their earlier discussions.
The battered commodity trading firm, in an announcement yesterday, also provided more details about its sale processes for Noble Americas Corp and Noble Americas Gas and Power Corp, and said its disposals over the last two years have all complied with listing rules and applicable laws.
Abu Dhabi-based Goldilocks, which owns 8.1 per cent of Noble, had requested the waiver after accusing Noble of taking a statement in their exchange out of context in the company's announcement last Wednesday.
It said it was unable to comment or elaborate further on these circumstances due to the non-disclosure arrangements, and wrote formally to Noble to waive them so that it may present a complete picture.
In its response yesterday morning, Noble maintained that its earlier announcement was "accurate and not misleading".
"In view of the extensive and confidential information shared with Goldilocks under the non disclosure agreement, the board is not aware of any reason that would justify Goldilocks' release from non disclosure of confidential information and therefore has not acceded to Goldilocks' request," it said.
Noble shares closed one cent, or 4.4 per cent, higher at 23.5 cents yesterday.
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