SINGAPORE - The following companies saw new developments which may affect trading of their shares on Monday (Dec 17):
AF Global: AF Global has agreed to sell its full ownerships rights to the Crowne Plaza London Kensington hotel in the United Kingdom for £84.4 million (S$146 million) in cash, the property and hospitality group said on Monday. Those rights are the primary asset of LC London, AF Global's wholly owned subsidiary that is being sold to a buyer who was selected following a competitive bid process. The sale will represent a net gain of about $14.4 million.
Datapulse Technology: Datapulse Technology has entered into definitive agreements with South Korean company Hotel Prima Co to acquire Hotel Aropa in Seoul for 35 billion won (S$42.7 million). In a Singapore Exchange filing late Sunday night, Datapulse said it signed on Dec 14 a conditional real property sale and purchase agreement to acquire the entire land and building for Hotel Aropa, as well as a conditional asset transfer agreement for the assets, licences, contracts and employees of the hotel. The acquisition is expected to complete by March 14, 2019.
The Place Holdings: The Place Holdings, a Chinese exhibitions and events company, has appointed Meng Kuang-Yi, the brother-in-law of executive chairman Ji Zenghe, as chief operating officer, it said on Sunday. It also announced that its deputy chief investment officer is leaving due to "personal reasons". The deputy chief investment officer, Teo Sheng Yue, will leave on Dec 31, 2018. Mr Meng will be responsible for the overall operation and development of the group under his new role.
Lifebrandz: Lifebrandz announced late on Friday that it is proposing to undertake a rights issue of up to 325.9 million new shares at an issue price of $0.007 for each rights share for every two existing shares. This represents a discount of about 46.2 per cent to the closing price of $0.013 per share on its last full day of trading. Assuming maximum subscription, the rights issue will raise net proceeds of $2.18 million, after deducting the estimated professional fees and related expenses of about $0.10 million.
SIA Engineering: SIA Engineering Company announced late on Friday that it is divesting its entire stake in its wholly owned subsidiary Aircraft Maintenance Services Australia (AMSA) for A$4.5 million (S$4.5 million) in cash to aircraft leasing company Heston Services Limited. The negative net tangible asset value of SIA Engineering's stake in AMSA is A$1.1 million, based on AMSA's audited financial statements for the financial year ended March 31, 2018.