Grand Banks Yacht

Grand Banks Yacht (The Edge): Following placement of new shares to the genting grp and its consortium, the new stakeholders will own a combined 16.7% of grp’s share capital, while Co’s founders the Livingstone family will hold abt 28.5%. Grandbanks is also hitting at the possibility of working with the Genting Grp to expand its business and haul itself back into the black, where grp see synergy and opportunity in enhancing its business operations. However substantial stakeholder Peter Cheng (18.3% stake) is unconvinced by Grand Banks claims that a turnard is underway and said that the placement to the Genting consortium was done in bad faith.