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Stocks to watch: Olam, Yuuzoo, DeClout
THE following stocks had announcements that could affect trading activity on Friday.
Olam International: Commodities trading house Olam International is buying US peanut sheller McCleskey Mills for US$176 million.
Olam said the acquisition will give it "farm gate to factory gate" capabilities in the world's lowest-cost peanut producing market.
The acquisition, targeted for completion in the third quarter of fiscal 2015, will be funded with internal cash and existing debt facilities.
Olam shares last traded at S$2.11 on Thursday.
Yuuzoo Corp: Two key officers have left social network platform Yuuzoo Corp. Chief financial officer Billy Ho will leave on Dec 7, while lead independent director Tang Lay Hoon left on Dec 3. Both resigned to pursue other commitments.
Yuuzoo has hired Linda Hoglund, group chief financial officer of e-commerce company Klarna, to replace Mr Ho. Kee Poir Mok, managing director of 125Capital, will join Yuuzoo's board as an independent director.
Yuuzoo shares closed at 39 Singapore cents on Thursday.
DeClout Ltd: DeClout, an information and communications technology provider, said a joint venture has bought up a web and mobile business from its partner for US$1 million. The acquisition was funded internally.
DeClout shares last changed hands at 22.5 Singapore cents on Monday.