Stocks to watch: Cromwell E-Reit, Best World, OCBC

THE following companies saw new developments that may affect trading of their securities on Thursday (Apr 4):

Cromwell European Real Estate Investment Trust (Cromwell E-Reit) : The Reit divested a non-core office property in Poland for 15.9 million euros (S$23.1 million). The manager on Wednesday said a deferred payment mechanism was agreed on with the buyer, Polish real estate developer Solida Capital Europe. Units of Cromwell E-Reit closed down 0.01 euro cent or 0.7 per cent at 1.42 euros, before the announcement. 

Best World International: The mainboard-listed consumer company proposed to cancel all of some 150.1 million shares held by eligible shareholders in consideration for S$2.50 in cash per share by way of a selective capital reduction. This represents an aggregate sum of S$375.4 million, financed by capitalising part of its retained earnings prior to undertaking the selective capital reduction exercise, said the company on Wednesday. Its counter closed 2.2 per cent or S$0.05 lower at S$2.22, before the announcement.