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Stocks to watch: Creative Tech, Ezion, HG Metal
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Creative Technology: Creative Technology on Tuesday said that its wholly owned subsidiary, ZiiLabs, has filed a patent infringement lawsuit in the United States against tech company Nvidia Corporation. Creative Tech last traded at US$0.837.
Ezion Holdings: Ezion Holdings before trading hours on Tuesday, sought support from security holders towards pushing out principal redemption for notes and cutting coupon rates on both notes and perpetuals totalling S$575 million in principal values. Ezion has gone on a trading suspension. (see amendment note)
Amendment: Ezion’s refinancing plan for securities tabled for principal redemption for notes only to be pushed out and coupon rates for both notes and perpertuals to be reduced. The plan involved an option for perpertuals to be converted to bonds with a 10-year tenure. The article has been corrected to reflect these and that Ezion has gone on a trading suspension.
HG Metal: HG Metal has called an extraordinary general meeting (EGM) on Oct 25, 2017 to seek shareholder approval for an asset sale and capital reduction exercise. HG Metal last traded at 57 Singapore cents.