THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 28):
Singapore Exchange: The Singapore Exchange (SGX) will adjust the conversion price of its 240 million euro zero coupon guaranteed convertible bonds due 2024 to S$12.0532, from the current S$12.264.
On Thursday (Sep 28), the bourse said this accounts for a S$0.085 per-share dividend to be approved at SGX’s upcoming annual general meeting on Oct 5.
The adjusted conversion price of S$12.0532 is effective from Oct 16. Any exercise of conversion rights prior will be based on the current conversion price, or S$12.264.
Share transfer books and register of members of the company will be closed from 5 pm on Oct 13 for the preparation of dividend warrants. The payment of the final dividend will be made on Oct 20.
Boustead Singapore: BOUSTEAD Singapore is seeking an extension from the Singapore Exchange Regulation (SGX RegCo) to allow it to provide details of its exit offer for Boustead Projects only after its first-half results have been released.
This comes a day after SGX RegCo issued a directive for the delisting of Boustead Projects, as the issuer has not ensured that at least 10 per cent of the total number of issued shares are held by the public.
In its notice of compliance, the frontline regulator also directed Boustead Projects and/or Boustead Singapore to make an exit offer to shareholders that is “fair and reasonable”, with the proposal to be provided within one month from Tuesday (Sep 26).
LHN Logistics: THE voluntary unconditional general offer by Milkyway Chemical for LHN Logistics closed on Wednesday (Sep 27) with 99.14 per cent valid acceptances, setting the stage for the company to be delisted.
The offer had previously been declared unconditional on Aug 21, with the offeror also crossing the 90 per cent threshold for acceptances, allowing it to exercise its right of compulsory acquisition.
The offeror said it intends to compulsorily acquire all the remaining shares of shareholders who have not accepted the offer, and will proceed to delist the company from the Catalist board thereafter.
