Corporate digest

Jardine Strategic

JARDINE Strategic will be delisted from the Singapore Exchange (SGX) effective 9am on Thursday, the company said in an exchange filing.

The delisting is in connection with the acquisition of Jardine Strategic by Jardine Matheson, which shareholders approved on Monday.

Shares of Jardine Strategic have been suspended from trading from Tuesday.

The counter has also been replaced on the Straits Times Index (STI) by Frasers Logistics & Commercial Trust.

Oceanus Group

OCEANUS Group has submitted an application requesting to exit the SGX watch-list, it said in an exchange filing on Tuesday.

The seafood supplier, which has been on the SGX watch-list since 2015, has been granted several extensions over the years to exit the watch-list. It said in March that the SGX had no objection to a further extention of time to April 15 for the company to meet the financial exit criteria.

An issuer on the watch-list may apply to be removed from it if it records consolidated pre-tax profit for the most recently completed financial year (based on audited full-year consolidated accounts), and has an average daily market cap of S$40 million or more over the last six months.

Oceanus shares closed at 4.2 Singapore cents on Tuesday, up 5 per cent or 0.2 cent.

Zheneng Jinjiang Environment

THE pre-conditional mandatory cash offer for Zheneng Jinjiang Environment Holding Company by Zhejiang Zheneng Electric Power has lapsed.

According to an exchange filing on Tuesday, certain pre-conditions had remained unsatisfied as of the long stop date on April 12, as the offeror had not received the requisite regulatory approval.

The sale and purchase agreement for 25.6 per cent of Zheneng Jinjiang Environment Holding Company has been terminated effective April 12. Following this, the pre-conditional offer has also lapsed, and a formal offer would not be made.

Zheneng Jinjiang shares closed at 57.5 Singapore cents on Monday, before a trading halt was called.

Ascendas India Trust

ASCENDAS India Trust has obtained a five-year S$100 million unsecured sustainability-linked loan facility from UOB, according to an exchange filing on Tuesday.

The facility, which is its first sustainability-linked loan, features a two-tier incentive mechanism where Ascendas India Trust is entitled to an interest rate reduction when predetermined sustainability performance targets are met.

The trust intends to use the proceeds from the loan for general corporate and working capital requirements.

The trust units rose 2 per cent or S$0.03 on Tuesday to close at S$1.53.