THE following companies saw new developments that may affect trading of their securities on Wednesday (May 31): Olam Group : VC2 0%: The company’s proposed initial public offering of its agribusiness unit is no longer expected to be completed by H1 2023 or ahead of the summer holiday period as originally planned. It said on Tuesday that all the necessary regulatory approvals have yet to be obtained to date, given the “distinct nature” of the transaction. Shares of Olam ended Tuesday down S$0.08, or 5.5 per cent at S$1.38, after the announcement. Golden Energy and Resources : AUE 0% (Gear): The Securities Investors Association (Singapore) or Sias, recommended on Tuesday that Gear’s minority shareholders reject the exit offer by its controlling shareholders. David Gerald, president of Sias, said that the independent financial adviser had conflated the two corporate actions of the exit offer and the distribution of Golden Energy Mines’ shares. Gear’s shares closed on Tuesday up S$0.01 or 1.1 per cent to S$0.955, before the statement by Sias.

Challenger Technologies : 573 0%: Majority shareholders of the consumer electronics retailer have made a voluntary unconditional cash offer of S$0.56 per share to take the company private. The offeror, DigiTech, is the bid vehicle of a consortium formed by Challenger’s majority shareholders that collectively hold around 54.4 per cent of the company’s shares. The company called for a trading halt on Monday; its shares last traded flat at S$0.55, with trading to resume on Wednesday. Trading halt: Aims Apac Reit : O5RU 0% (AA Reit): The real estate investment trust (Reit) on Wednesday morning requested a trading halt, before it announced plans to raise gross proceeds of about S$100 million through an equity fundraising exercise. This comprises a private placement of new units priced between S$1.214 and S$1.249 per unit, as well as a preferential offering of new units priced between S$1.189 and S$1.224 apiece. Units of AA Reit closed down 1.5 per cent or S$0.02 at S$1.31 on Tuesday. EC World Real Estate Investment Trust : BWCU 0%: Pending the release of announcements, the Reit called for a trading halt on Wednesday morning. The counter last traded flat at the close of Tuesday’s trading at S$0.295.