THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 13):
Keppel, Keppel Infrastructure Trust: Keppel Corporation And Keppel Infrastructure Trust To Jointly Invest In European Onshore Wind Energy Portfolio. Fundco Will Initially Co-Invest In 49% Of Three Operating Wind Farms In Sweden And Norway. Keppel Corp, Keppel Infrastructure Fund Management Committing Eur 160 Million For 33.3% Stake In Joint Investment Vehicle.Foras Will Hold Remaining 51% Stake In Projects.
Proposed Co-Investment In Initial Portfolio Is Expected To Be Completed By 3Q2022.Purchase Consideration For 49% Of Initial Portfolio Is Approximately Eur 176 Million.Transaction Is Expected To Support Kit'S Overall Distributable Income Per Unit Accretion. Fundco Will Further Have A 5-Year Exclusive Right And Obligation To Co-Invest In 49% Of All Foras' Eligible Pipeline.
ISDN: ISDN Holdings will withdraw the scrip dividend scheme for FY2021 and distribute the proposed dividend of S$0.0145 fully in cash instead, given that the issue price of the scrip dividend is lower than the counter’s market price.
The engineering company, in its statement filed after the market close on Tuesday (Jul 12), said that the issue price of each new share under the scrip dividend scheme is S$0.501, an amount that should not be set at more than 10 per cent discount or exceed the average of the last prices on each of the 5 trading days prior to and ending on the record date of Jul 7.
However, its last trading price for each of the 5 trading days to Jul 7 averaged only S$0.467 — lower than the issue price of the scrip dividend.