SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (Dec 5):
Lippo Malls Indonesia Retail Trust (LMIR Trust) and First Real Estate Investment Trust (First Reit): LMIR Trust and First Reit will be holding two separate extra ordinary meetings (EGMs) on Dec 20. The trusts said in Singapore Exchange filings before the market opened on Tuesday that the agenda will include the seeking of approval for a proposed joint acquisition with First Reit of an integrated development, comprising a hospital component known as Siloam Hospitals Yogyakarta and a retail mall component known as Lippo Plaza Jogja (LPJ) from vendor PT Mulia Citra Abadi. The agenda also includes getting unitholders' approval for the grant of the LPJ Master Leases to the LPJ Master Lessees, and for Yogyakarta IndoCo to take over the mall-related tenancy agreements in relation to LPJ.
New Wave Holdings: Hotel and property magnate Koh Wee Meng, who failed last week to take a majority stake in electronic component supplier New Wave through a cash offer bid, has upped his stake in the company through an open-market purchase. Mr Koh, who runs Fragrance Group, spent some S$1.23 million to mop up some 94.3 million shares at S$0.013 per share on Dec 1. The purchase raised his stake in New Wave to 19.4 per cent from 13.5 per cent. His offer to take control of New Wave lapsed on Nov 30. The number of valid acceptances represented 19.2 per cent of the company's total shares, well short of the over 50 per cent level required for the cash offer to take effect.