MAS aware of ISR stake sale to Rigoll, says Value Capital Asset Management

SINGAPORE (June 28): Value Capital Asset Management, the fund manager that placed a commanding stake in ISR Capital in the hands of David Rigoll, says that the Monetary Authority of Singapore (MAS) was aware of its transactions and the source of its funds.

“To reiterate, VCAM is a privately held fund management company registered with MAS and they are obligated to report to MAS on their investors and source of investment funds,” says spokeswoman Rosalina Soh, of Equitique Communications, in an email exchange with The Edge Singapore.

VCAM specialises in subscribing to redeemable convertible bonds issued by small cap companies. These instruments, sometimes known as “death spiral” convertibles, have the potential to cause massive dilution, and even place control of a company in new hands.

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