THE following companies saw new developments that may affect trading of their securities on Monday (Jun 13):
Frasers Logistics & Commercial Trust: The manager of Frasers Logistics & Commercial Trust (FLCT) has proposed to acquire three fully leased freehold logistics and industrial properties in Australia for a total consideration of A$61.0 million ($60.4 million).
The total cost of the acquisition is estimated to be A$65.9 million, which comprises the portfolio purchase price as well as the stamp duty and other fees. The acquisition will be fully funded by the divestment proceeds of Cross Street Exchange in Singapore.
Mapletree Logistics Trust: Natural Cool receives demand from Mapletree Logistics Trust for rental arrears of $1.42 mil.
It is in discussion with MLT to “work towards a mutually acceptable and amicable resolution to this matter.”
Natural Cool Holdings has on June 9 received a letter of demand from landlord Mapletree Logistics Trust seeking $1.42 million in rental in arrears.
The property, which has a net lettable area of 19,708 sqm, is occupied by Natural Cool for its operations and is at 29 Tai Seng Avenue (picture).
Mapletree Logistics Trust seeks S$1.4m in unpaid rent from Natural Cool unit.
HRNETGROUP intends to buy back up to S$30 million of its shares under its new buyback programme, it said in a bourse filing on Monday (Jun 13).
The programme allows the recruitment company to purchase up to 10 per cent of its issued shares when they are undervalued due to market conditions. This means HRnetGroup can buy back up to 100.4 million shares via market purchases.
The group said it will hold the repurchased shares as treasury shares which could be used for employee share plans and also as possible currency for merger and acquisition activities.
Sembmarine needs to offer its shareholders a grand gesture to garner support for merger.
It didn't take Sembcorp Marine (Sembmarine) long to respond to an apparent campaign by a minority shareholder named Philip Loh to scupper the company’s proposed merger with the offshore and marine.
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