THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 8):
Del Monte Pacific: CANNED food brandDel Monte Pacific on Wednesday (Dec 7) posted a net profit of US$49.5 million for the second quarter ended Oct 31, up 38 per cent from a year ago.
The increase was driven by a notable rise in gross margin for its US subsidiary, Del Monte Foods Inc (DMFI), the group said in a filing on the Singapore bourse. DMFI’s gross margin went up from 24.9 per cent to 28 per cent, as a result of selected price increases in line with inflation, reduced sales of low-margin products, and expense reduction initiatives, Del Monte Pacific said.
REVEZ Corporation: REVEZ Corporation has received a mandatory offer for all its shares from investors Lim Quee Lan and Tan Swee Kim Bernard, the Catalist-listed digital services company said in a bourse filing on Wednesday (Dec 7).
The duo have acquired a 58.6 per cent stake from L3N Capital, Revez’s : RCU 0% chief executive officer Victor Neo, chief operating officer Lim Kian Sing and Liang Xingfen, the wife of Revez’s chief creative technology officer Lee Han Chong.
The offer was made at S$0.0306 per share. This is 66 per cent below the last-transacted price of S$0.09 per share.
The offer price is also at a 65.6 per cent discount from the volume-weighted average price of 8.89 cents, for the one-month period up to and including Dec 1.
Before the offer, L3N Capital had a 53.8 per cent stake in Revez, while Neo had a 1.9 per cent stake, Lim a 2.9 per cent stake, and Liang a 0.1 per cent stake.
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