Union Steel (SGX:ZB9) purchased 680,000 warrants in Eneco Energy (SGX:R14) for a total consideration of SG$3.4 million or SG$0.005 per sale warrant, according to a filing with the Singapore Exchange on Monday.
The sale warrants represent 41.0% of the total number of warrants and 17.1% of the total enlarged share capital of Eneco Energy upon the exercise of all warrants.
The consideration for the acquisition of warrants will be funded by internal cash resources.
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