THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 13):
Keppel (BN4): Keppel Offshore & Marine (Keppel O&M) will speed up the delivery of three out of five undelivered jackup rigs to Borr Drilling and defer the delivery of the remaining two rigs, according to a bourse filing by Keppel Corp on Wednesday (Oct 12).
This comes as Keppel O&M entered into an amended and restated framework deed with Borr Drilling and its subsidiaries to make the delivery to Borr Drilling or any third party whom Borr Drilling intends to sell the rigs to between October 2022 and July 2023.
All three jackup rigs will also be sold without any seller’s credit arrangement, after two of the three jackup rigs’ seller’s credit arrangements are cancelled.
Sats (S58): State investor Temasek Holdings’ subsidiary Fullerton Fund Management on Oct 7 sold 1.2 million of its shares in Sats for some S$3.5 million or S$2.982 apiece.
In a bourse filing on Wednesday (Oct 12), investment manager Tembusu Capital revealed the transaction would reduce its total stake in Sats – held through Venezio Investments, Singapore Airlines (SIA), and Fullerton – from about 40 per cent to 39.9 per cent.
Following the disposal, Tembusu’s deemed interest in Sats is 39.7 per cent held via Venezio; 0.02 per cent via SIA; and 0.2 per cent via Fullerton.
LHN (41O): LHN Space Resources, an indirect wholly-owned subsidiary of LHN Limited, has taken out a lease on Space @ Tampines, a 59-unit industrial property for three years and 11 months, effective Thursday (Oct 13).
In a bourse filing on Wednesday, LHN said that the tenancy of the property will be recognised as right-of-use assets for approximately S$53.1 million. The value is based on the present value of the aggregated lease payments made during the term, plus the option to renew for a further term of three years.
According to the terms of the lease, the revised rent during the further term of three years will not exceed 110 per cent of the initial rent.
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