THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 13):
Mainboard-listed Singtel and a unit of the subsidiary of Keppel Corporation will each divest their respective 50 per cent stakes in Radiance Communications to a subsidiary of Telechoice International, another mainboard-listed player.
Each seller will pocket S$625,000 from the sale.
Before the divestment, Radiance Communications will distribute dividends and return capital of about S$2 million each to Singtel and Keppel Communications, the KepCorp unit involved in the sale.
The total proceeds will hence be about S$2.6 million for each seller. However, the divestment that will end Radiance Communications' status as an associate is not expected to have a material impact on the net tangible assets or earnings per share of KepCorp, it stated in its regulatory filing on Tuesday (Apr 12).
THE transfer books and the registers of ESR-Reit unitholders and Ara Logos Logistics Trust unitholders will be closed at 5pm on Apr 21 to determine the entitlements of these unitholders to their respective clean-up distributions for the period from Jan 1 up to a day before the effective date of their merger.
ESR Funds Management, in its regulatory filing as ESR-Reit's manager on Tuesday (Apr 12), provided an indicative timeline on events taking place till the merger becomes effective.
ESR said that the court-sanctioned scheme for the merger of the 2 real estate investment trusts (Reits) is expected to be effective on Apr 22, with the court hearing scheduled to take place on Apr 18.
Hatten Land said on Wednesday (Apr 13) that it will be rebranding Elements Mall in Melaka, Malaysia into an e-sports hub.
To fund this new business strategy, the property developer said in a bourse filing that it will be raising S$5 million by issuing close to 122 million new shares, at S$0.041 per share.
This issue price is an 8.89 per cent discount to Hatten Land's last closing price of S$0.045 on Apr 8, which was the last day its shares were being traded before a trading halt was requested on Apr 11.
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