SINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday (March 7):
Datapulse Technology: It had on March 1 filed a writ of summons and statement of claim against Singapore-based hedge fund Ascapia Capital over a claim for defamation.
The claim relates to Ascapia's publication of an open letter titled, "Minority shareholders demand answers", dated Jan 25, to the company's shareholders and the Singapore Exchange, as well as on a website accessible by the public.
Datapulse is claiming, among other things, for the "baseless allegations" the fund had made against the company and the board in the letter, which appears to be calculated to cause "pecuniary damage" to their reputation, trade and business, it said.
Cosco Shipping International: Following the announcement earlier this month that Cosco Shipping International's voluntary cash offer for shares of Cogent Holdings had turned unconditional, Cosco Shipping on Tuesday said it has completed the S$490 million compulsory acquisition. The offer price for Cogent Holdings was at S$1.02 per share. Following the compulsory acquisition, Cogent Holdings has become a wholly-owned subsidiary of Cosco and will be delisted from the SGX with effect from 9am on March 8.
Singapore Exchange: The stock exchanges of Singapore and New Zealand have signed an agreement to expand their cooperation in Asia-Pacific markets, the Singapore Exchange (SGX) said on Wednesday morning. With the memorandum of understanding, SGX and the New Zealand Stock Exchange will aim to promote market development initiatives including the promotion of derivatives products, dual and secondary listings, exchange traded funds and investor participation. The agreement will also see the bourses partner on green finance and sustainability initiatives.
Vard Holdings: The shipbuilder said on Wednesday that it has secured contracts for the design and construction of two luxury expedition cruise vessels for French cruise company Ponant. The two newly contracted vessels will be delivered in 2020. In a separate filing on Wednesday, Vard's Italian parent Fincantieri, which has proposed to privatise and delist the company, was disclosed to now control 80.64 per cent of Vard as at the end of Tuesday.
Oceanus Group: The seafood supply chain manager on Tuesday night said that the Singapore Exchange has granted the company an extension of up to six months to June 2, 2018, to meet the criteria to exist its watch list. The company believes that it has satisfied the financial exit criteria based on its unaudited FY17 results, and expects to finalise the consolidated audited FY17 accounts at the upcoming annual general meeting.