Stocks to watch: Boustead Singapore, CSE Global, Elite UK Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 17):

Boustead Singapore : The engineering and technology group’s subsidiary, Esri Australia, has renewed a contract for its geographic information systems platform with the Australian federal government for around S$60 million. The group said in a bourse filing on Tuesday that this is the largest enterprise agreement contract for the company’s geospatial division to date. It was previously renewed in July 2023. Shares of Boustead Singapore declined 1 per cent or S$0.02 to close at S$2.05 before the announcement.

CSE Global : The technology solutions provider on Tuesday responded to regulatory queries regarding the abrupt resignation of its lead independent director Tan Chian Khong, detailing “unresolved differences in views” between him and board chairman Eugene Lai. The board said that the dispute has not resulted in any material adverse impact on the business or operations of the company to date. Shares of CSE Global ended at S$1.33 before the announcement, S$0.06 or 4.3 per cent lower.

Elite UK Reit : The real estate investment trust (Reit) lifted its trading halt on Tuesday after market close, with its private placement to partially fund five new UK properties and a student dorm conversion oversubscribed. The issue price was fixed at £0.296 per unit, a discount of about 13.12 per cent to the volume-weighted average price of £0.3407 on its last trading day on Monday. A total of 25 million units will be issued to raise gross proceeds totalling £7.4 million (S$12.7 million). Units of Elite UK Reit ended flat at £0.34 on Monday.