SINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday (Dec 27):
The property developer's subsidiary has taken a 25.5 per cent stake in an Australian firm that has acquired a site in the centre of Broadbeach and Mermaid Beach on Gold Coast for residential development purposes. The mainboard-listed group on Wednesday said Oxley Australia subscribed for more than 4.8 million fully paid shares in Pindan Capital Mermaid Beach (PC Mermaid Beach), which has an issued share capital of A$19 million (S$19.7 million).
In a separate filing, Oxley Amethyst, a wholly owned subsidiary of Oxley Holdings, has exercised the option to purchase a freehold property in Balestier Road for S$38 million from Owen, in which the former's chief executive is a significant shareholder.
The abalone company has completed its debt restructuring exercise, putting the group in a debt-free and "net cash positive" position by the end of its financial year 2017. The debt restructuring proposal was announced earlier this month, and was approved by its shareholders last week.
Property developer SingHaiyi Group is looking to raise net proceeds of up to S$143.16 million for property investments through a rights issue. It announced on Monday that it is proposing a renounceable non-underwritten rights issue of up to 1.44 billion new shares at 10 Singapore cents each, to be issued on the basis of one rights share for every two existing shares to shareholders.
Its 51 per cent owned subsidiary has entered into an agreement that extends it the option to redeem in cash the remaining balance of a 11.06 billion won (S$13.8 million) loan extended to Caffe Bene Co (Caffebene). Food Empire said that the agreement dated Tuesday provides its subsidiary Hallyu Ventures the option to redeem - in whole or in part - the balance of the loan in cash or conversion into new common stocks in Caffebene. The loan has been partially repaid through a conversion of new common stocks in the capital of Caffebene on June 30.