THE following companies saw new developments that may affect trading of their securities on Monday (Apr 18):
Rex:
Rex International Holding’s 91.65%-owned subsidiary, Lime Petroleum AS, has signed an agreement with MOL Norge AS to acquire the latter’s 40% interests in licences PL820 S and PL 820 SB in the North Sea on April 14.
The licenses come with the Iving and Evra discoveries and are located in the Utsira High area. The area is adjacent to the giant Vår Energy-operated Balder field, and just north of PL818 Orkja and PL867 Gjegnalunden in which Lime has 30% and 20% interests respectively.
HRNetGroup:
Recruitment company HRnetGroup said its lead independent non-executive director Sin Boon Ann would be retiring on Apr 28 to allow for a renewal of the board.
Sin, who was chairman of the group’s nominating committee, will also cease to be a member of its audit and remuneration committees after his retirement, the company said on Monday (Apr 18).
Oxley:
Property developer Oxley Holdings has issued S$50 million worth of notes with a fixed interest rate of 6.9 per cent that are due in July 2024.
These notes are its third tranche in a series, issued under a US$1 billion guaranteed euro medium term note programme, said the company in a bourse filing on Tuesday (Apr 5) evening.
This third tranche is to be consolidated to form a single series with the first and second tranche, both of which were issued last year, under the same programme.
Elite Commercial Reit:
ELITE Commercial Reit said its lease for Tomlinson House in Blackpool Norcross Lane to the United Kingdom's Ministry of Defence will now run till March 2028, after the option for lease break in March 2023 had been removed.
In its regulatory filing on Thursday (Apr 14), the manager of the real estate investment trust (Reit) said the move has provided income visibility for the next 6 years from March 2022, as well as further upside from its built-in inflation-linked rental escalation from April 2023.
Elite Commercial Reit, under an agreement with the UK Ministry of Defence, will be investing £100,000 (S$177,880) towards pre-approved works relating to sustainability upgrade initiatives focused on improving the underlying energy efficiency of the building.
HPL:
Hotel Properties (HPL) will be booking a gain of $29 million with the sale of its 80% stake in a joint venture.
Ong Beng Seng, HPL’s managing director, holds the other 20% of the joint venture.
The joint venture HPL Olympia, holds the 405-key Hilton London Olympia hotel in London.
The property is to be sold to an unrelated party for £40.8 million in cash and the transacted price was negotiated at arm’s length on a “willing buyer and willing seller” basis.
SPH Reit:
With its offer to acquire Singapore Press Holdings (SPH) having been approved by shareholders of the mainboard-listed property player, Cuscaden Peak has started dispatching to shareholders the forms for them to choose between getting all cash or a combination of cash and SPH Reit units.
In its regulatory filing furnished to the Singapore Exchange on Thursday (April 14), Hotel Properties Limited (HPL) announced that the consortium it backed, Cuscaden Peak, requires SPH shareholders to submit the election forms by 5.30pm on April 26 if they want to receive the $2.36 in cash for each SPH share they hold.
Shareholders, however, need not state their preference if they want to receive a combination of $1.602 cash and 0.782 SPH Reit unit for every SPH share.
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