Noble Group Ltd (NOBG.SI) Key Developments | Reuters.com
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Noble Group Ltd (NOBG.SI)

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Latest Key Developments (Source: Significant Developments)

Noble Group responds to S&P rating downgrade
Thursday, 16 Jun 2016 05:07am EDT 

Noble Group Ltd : Notes that Standard and Poor's have made a determination to downgrade the company to B+ with a negative watch . Says company does not agree with S&P's assessment that its liquidity has weakened .  Full Article

S&P says Noble Group Ltd downgraded to 'B+';Outlook Negative
Wednesday, 15 Jun 2016 06:59am EDT 

S&P on Noble Group: Also lowering greater china regional scale rating on Noble to 'cnBB-' from 'cnBB' and on the notes to 'cnB+' from 'cnBB-' . Negative outlook reflects the elevated refinancing risk over the next 12 months . Departure of Noble's CEO and stepping down of its chairman may impact co's strategy and execution . Noble benefits from a consistent track record of asset sales and raising of funds to stabilize its liquidity. Source (http://bit.ly/1WNtoc3) Further company coverage: [NOBG.SI] (Bengaluru Newsroom) (((+91 80 6749-1130; within U.S. +1 646 223 8780);)).  Full Article

Noble Group exec says received a number of approaches for energy solutions unit
Thursday, 2 Jun 2016 09:55pm EDT 

Noble Group Ltd : CFO says additional liquidity of $2 billion to be raised will cover company's debt requirements of 2017 . Noble Group exec says received a number of approaches for its energy solutions unit, targets sale completion this year Further company coverage: [NOBG.SI] (Reporting By Anshuman Daga) ((aradhana.aravindan@thomsonreuters.com;)).  Full Article

Noble proposes renounceable underwritten rights issue of 6.54 bln shares
Thursday, 2 Jun 2016 08:24pm EDT 

Noble Group Ltd : Gross proceeds from the rights issue are approximately S$718.9 million . Proposed renounceable underwritten rights issue of 6.54 billion new ordinary shares of HK$0.25 each in the capital of the company . Estimated net proceeds from the rights issue after for the rights issue are expected to be approximately S$696.1 million . Net proceeds will be used for debt repayment, working capital and general corporate purposes . Rights issue at an issue price of S$0.11 for each rights share .Application has been made by the company to obtain the sgx-st's approval for the listing of and quotation for the rights shares.  Full Article

Noble Group announces $500 mln rights issue
Thursday, 2 Jun 2016 08:23pm EDT 

Noble Group Ltd : Announcement) . Announces US$500 million rights issue, a comprehensive programme to focus the company on its growth businesses and changes to the board . Says also announcing an expanded cost reduction programme, which is in addition to previous cost reduction efforts announced . Rights issue announced today has strong support from both Richard Elman and China Investment Corp . Confirmed the continuation of a rigorous operating cost reduction programme" . Continued reduction of working capital in low return businesses globally . Reconfirmed earlier commitment to a comprehensive asset disposal and portfolio optimisation programme, which will generate at least US$1.5 billion . Reduction in headcount following exit from low returning businesses and assets . Says cost reduction programme with a focus on reduction in headcount following exit from low returning businesses and assets . Planned headcount and sao expense reduction in excess of 20% from current levels over the course of 2016 . CIC will henceforth be entitled to a second non-executive director, in addition to the current appointee they have on the board . Noble will also seek to appoint an additional independent non-executive director . Richard Elman Wishes to step down as executive chairman within the next 12 months .  Full Article

Moody's says Noble Group's ratings unaffected by CEO resignation
Monday, 30 May 2016 06:37am EDT 

Moody's On Noble Group : Moody's: Noble group's ratings unaffected by CEO resignation .Change in management does not change the drivers of the negative outlook.  Full Article

Noble Group shares fall more than 3 percent after CEO resigns
Sunday, 29 May 2016 08:22pm EDT 

Noble Group Ltd :Shares fall more than 3 percent after CEO resigns.  Full Article

Noble Group annnounces appointment of William Randall and Jeff Frase as co chief executive officers
Sunday, 29 May 2016 08:00pm EDT 

Noble Group Ltd : Noble Group announces senior management changes and sale of Noble Americas energy solutions . Announce the appointment of William Randall and Jeff Frase as co chief executive officers . Says will, based in Hong Kong, is currently president of Noble Group and an executive director and will retain his board seat . Richard elman will continue in his role as chairman and executive director. . Will shortly be starting the sale process for Noble americas energy solutions . Sale process for Noble americas energy solutions expected to generate both significant cash proceeds and profits .  Full Article

Noble Group says it has accepted the resignation of CEO Yusuf Alireza
Sunday, 29 May 2016 08:00pm EDT 

Noble Group Ltd : Announcement) . Noble Group announce that they have accepted the resignation of Yusuf Alireza, chief executive officer .  Full Article

Noble Group falls 4.6 percent after Fitch downgrades rating to junk
Tuesday, 17 May 2016 09:12pm EDT 

Noble Group Ltd :Shares fall 4.6 percent after Fitch downgrades company's rating to junk.  Full Article

China's COFCO to open Canada grain trading office by autumn

WINNIPEG, Manitoba China's COFCO Agri [CNCOF.UL] will open a Canadian crop trading office in Winnipeg by the time farmers harvest their new crops, the state-owned agricultural trader said on Tuesday.