Vallianz share price tanks after shock Swiber announcementCompany News // July 28, 2016
News sources in Singapore say the share price of Vallianz Holdings 'collapsed' on the morning of 28 July 2016 following news that its controlling shareholder Swiber Holdings has filed to wind up and is under provisional liquidation.
On 27 July Vallianz had announced that its non-executive director and chairman, Raymond Kim Goh, had resigned due to health reasons. Mr Goh is also the executive chairman and founder of Swiber Holdings.
Swiber announced on 27 July that is has reecived 'letters of demand' for approximately US$25.9 million.