THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 12):
MANULIFE US Real Estate Investment Trust: Manulife US Reit has divested its property, Tanasbourne, located in Hillsboro, Oregon, for ??US$33.5 million on Wednesday (Apr 12).
The Reit’s manager, through its indirect wholly-owned subsidiary, Hancock S-Reit Portland, entered into a purchase and sale agreement with John Hancock Life Insurance Company (USA) for Tanasbourne. The divestment was completed on the same day.
Tanasbourne is a 132,851 square foot office campus comprising three flex-office buildings constructed between 1986 and 1995, and was refurbished in 2015, 2017 and 2020.
Lian Beng: MAINBOARD-LISTED Lian Beng’s controlling Ong family, through investment holding company OSC Capital, has made a voluntary unconditional cash offer to buy out minority shareholders at 62 Singapore cents a share.
This is less than half of Lian Beng group’s net asset value (NAV), which was about S$1.54 per share as at end-November 2022.
After the offer is completed, the company will be a wholly-owned subsidiary and delisted from the Singapore Exchange (SGX), according to a Tuesday (Apr 11) bourse filing.
USP: WATCH-LISTED on Tuesday (Apr 11) was handed a notice of compliance from bourse regulator Singapore Exchange Regulation (SGX RegCo), after it failed to audit its most recent full-year financial statements before the end of its cure period on Dec 22, 2022.
It is now required to appoint auditors to carry out an audit by May 31, 2023, for its financial statements for the financial year (FY) ended Mar 31, 2023, and announce the results by a deadline agreed with the exchange.
Then, based on the results, it must apply to either be removed from the watch-list, or to extend the cure period, by a deadline to be agreed with SGX.
If USP Group does not comply, the exchange will move to delist the company. It will also be deemed to have contravened the listing rules.
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