SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (March 26):
Singtel: Singtel has brought McKinsey's former managing director on board its board. Dominic Barton, 56, became an independent director on Monday, the telco disclosed in a bourse filing. The Canada resident, who sits on the Economic Development Board's International Advisory Council, is also chancellor of the University of Waterloo and chairman of Toronto-listed miner Teck Resources. Singtel closed flat at $2.97 before the appointment was announced.
LionGold Corp: Catalist-listed LionGold Corp plans to scrap a subscription agreement for $100 million in redeemable convertible bonds, ahead of a separate share issuance to a pair of Chinese private investors. It will pay controlling shareholder Premier Equity Fund Sub Fund E a termination fee of $500,000 in cash, and another $51,291.10 to cover the outstanding principal and interest accrued, said the board, which noted that "the termination fee was proposed by the manager and agreed to by the board". LionGold shares last traded flat at 0.1 cent.
New Silkroutes Group: A subsidiary of New Silkroutes Group has sold its entire stake in International Energy Group for US$10 million in cash, the group said in a Singapore Exchange (SGX) filing on Monday. The sale of the oil and gas trading company by New Silkroutes Capital is subject to certain conditions, including approvals from the SGX and shareholders. Following the disposal, the company will become a full-fledged healthcare group. The stock last traded at US$0.185 on March 22.
Raffles Infrastructure: Raffles Infrastructure on Monday said that it is "essential" for ex-chief executive Wu Xinhua to be reappointed to the board as his cooperation is required on matters relating to the ongoing special audit conducted by KPMG. Shares of the company last traded at $0.375 apiece on March 4.
Kim Heng Offshore & Marine Holdings: Kim Heng Offshore & Marine Holdings, an integrated offshore and marine value-chain services provider, has secured various fabrication jobs with a total value of about $7 million. It did not reveal who the customer was, only saying that it was "well-established". Completion of the fabrication jobs is scheduled to take place over six months commencing from the first quarter of the financial year ended Dec 31, 2019. The counter last closed at $0.063 apiece on March 22, up one Singapore cent.
Sabana Reit: Sabana Reit's manager has received a notice of rescission from the purchaser of a Tuas industrial building to rescind the sales and purchase agreement. This follows the manager's announcement on March 23 that the divestment of the property was called off after the buyer, Kim Soon Lee (Lim) Heavy Transport, did not obtain approvals from JTC, a condition for the sale. The counter last closed flat at $0.42 apiece on March 25.
Capital World: Catalist-listed Capital World on Monday said that it has agreed on the terms of repayment with convertible bondholder Chong Thim Pheng, after shareholders in January blocked the integrated property developer from issuing 39 million new shares to him as part of a settlement agreement. Under the repayment terms, the company will fully repay the Series A Tranche 1 Bonds on March 25, including interest up to then, amounting to $4.05 million. Shares of the company last closed at $0.04 apiece, down 0.1 cent.