Stocks to watch: Elite Commercial Reit, Seatrium, Sabana Reit
THE following companies saw new developments that may affect trading of their securities on Monday (Apr 15):
Elite Commercial Reit : The real estate investment trust (Reit) will expand its investment strategy to include other asset sectors in the UK in addition to its current focus on social infrastructure assets, the manager said on Monday. It has highlighted the living sector, which includes purpose-built student accommodation and build-to-rent residential assets, as one such area of potential investment. Its counter closed flat at £0.245 on Friday.
Seatrium : The offshore and marine group will collaborate further with Shell on floating production systems (FPS), it said on Monday. Both parties have inked a memorandum of understanding that will promote best practices in FPS design and constriction by driving product standardisation and replication. Shares of Seatrium closed down S$0.003 or 3.6 per cent at S$0.081 on Friday.
Sabana Industrial Real Estate Investment Trust (Sabana Reit): The manager said on Monday that it intends to convene the requisitioned extraordinary general meeting (EGM) on or before May 25. It added that due to the closeness in time between the EGM and the Apr 23 annual general meeting, the manager is unable to accede to the requisitionsts’ request, as it needs time to prepare for the convening of the requisitioned EGM according to the relevant regulatory and legal requirements. Units of Sabana Reit closed Friday down 1.4 per cent or S$0.005 to S$0.365.
