The following companies saw new developments that may affect trading of their securities on Thursday (Mar 7):
Great Eastern (G07): The recent request by a minority shareholder of Great Eastern to table resolutions at its upcoming annual general meeting (AGM) “does not satisfy all of the requirements” for a requisition to be moved, the insurer said on Wednesday (Mar 6).
The Business Times reported on Mar 1 that a group of minority shareholders of GEH, led by independent investor Ong Chin Woo, had sought to table three resolutions at the upcoming AGM: to withhold directors’ fees, to change the share option schemes of employees, and to appoint an independent financial adviser to explore options to enhance shareholders’ value.
In its regulatory filing on Wednesday, GEH said it responded to “a minority shareholder, acting on behalf of a group of minority shareholders” after seeking legal advice.
It highlighted as well that its share price depends on “many factors”, as it addressed the criticisms that the counter had not kept pace with the increase in its net asset value (NAV) and embedded value.
Digital Core Reit (DCRU): Digital Core Reit (DCRU) (real estate investment trust) has agreed to raise its stake in a data centre in Germany by 24.9 per cent to 49.9 per cent.
However, the proposed 117 million euro (S$170.7 million) interested-person transaction requires unitholders’ approval.
Digital Core Reit Management, the manager of the pure-play data centre real estate investment trust, said in a regulatory filing on Wednesday (Mar 6) that raising the stake in the freehold data centre in Frankfurt is expected to be approximately 3.2 per cent accretive to the annual distribution per unit.
Wing Tai (W05): Wing Tai Holdings has established a S$1 billion multicurrency debt issuance programme.
The property developer and fashion retailer on Wednesday (Mar 6) said it plans to use the net proceeds for general working capital and investments, as well as refinancing existing borrowings.
It may issue perpetual securities and notes denominated in Singapore dollars or any other currency, in various amounts and tenors, at fixed, floating, variable or hybrid interest rates. They may also not bear any interest.
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