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Stocks to watch: Chew's Group, First Sponsor, HRnetGroup
THE following companies saw new developments which may affect trading of their shares on Monday:
Chew's Group: The fresh egg producer said on Friday night that its controlling shareholder, Fenghe Investment, has entered into a term sheet to sell its entire 68.14 per cent stake in the company to a potential third-party purchaser. Fenghe Investment mixes the interests of various Chew family members, including executive chairman Chew Chee Bin. The identity of the purchaser was not disclosed. Under the proposed sale, Fenghe Investment will swop its stake for S$12.1 million in cash, or S$0.2107 per share of the Catalist-listed Chew's Group.
First Sponsor Group: A 31.4 per cent owned associate of First Sponsor Group is selling its stake in Dutch hotel Bilderberg Landgoed Lauswolt for 6.88 million euros (S$10.8 million). First Sponsor's associate Queens Bilderberg (Nederland) has on June 9, 2018 reached an agreement to sell its 18,152-share stake in Landgoed Lauswolt - which owns the hotel, at one euro apiece, to Landgoed Oranjewoud Participaties, the property player said on Monday before the market opened.
HRnetGroup Limited: It has on June 9 entered into definitive agreements relating to its January 2018 acquisition of a 51 per cent stake in REForce (Shanghai) Human Resources Management Consulting, it said on Saturday. In a filing with the Singapore Exchange, HRnetGroup said that the terms of the sale included a share purchase agreement and shareholders agreement, and that the satisfaction of the consideration has been agreed to comprise three tranches.