THE following companies saw new developments that may affect trading of their securities on Friday (Sep 23):
Cromwell E-Reit (CWBU): Cromwell European Reit’s (CEREIT) manager said on Thursday (Sep 22) proposed changes to Dutch tax regime will not affect the real estate investment trust’s (Reit) distributable income.
The clarification through a bourse filing came two days after the Dutch government’s budget day announcement on its tax policy intentions to subject Dutch fiscal investment institutions to Dutch corporate income tax starting Jan 1, 2024.
The manager said the Reit and its subsidiaries are not considered fiscal investment institution entities, and are already subject to corporate income tax in the Netherlands.
OxPay Financial (TVV): PAYMENT services company OxPay Financial said it did not announce a tribunal’s order for the company to pay its former chief executive and chief financial officer more than S$77,000, as the claim amount constituted “only 1.4 per cent of the group’s total equity”.
The Catalist-listed company was responding to queries by the Singapore Exchange Regulation (SGX RegCo), which had asked why the claims reported by The Business Times on Monday (Sep 19) were not announced on SGXNet earlier.
The claims were for the wrongful dismissal of its former executive director and chief executive Anthony Koh and chief financial officer Madeline Sam.
IWOW Technology (NXR): TRACETOGETHER token maker iWOW Technology has signed a non-binding term sheet for its proposed acquisition of a private Singapore-based telecommunication solutions provider at a consideration capped at S$18 million.
Without naming the company, the Catalist-listed company said in a bourse filing on Thursday (Sep 22) that the target company is a regional value-added distributor with a proven track record of serving telcos and enterprise clients with mission-critical infrastructure.
The term sheet was entered into with the sole shareholder of the company and its controlling shareholders, it said, adding that the target company has a wholly-owned subsidiary incorporated in Malaysia.
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