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Stocks to watch: No Signboard, Procurri, Ezion, Green Build, Pine Capital
THE following companies saw new developments that may affect trading of their shares on Monday:
No Signboard Holdings: The company's chief executive Lim Yong Sim inadvertently instructed the company’s broker to buy back shares of the seafood restaurant operator during a trading restriction period, the company said in response to a Singapore Exchange query. Shares in No Signboard last closed on Jan 31 at S$0.15, up 2.9 Singapore cents.
Procurri Corporation: The enterprise hardware supplier named its offeror on Monday, saying it had received a non-binding letter of intent (LOI) from New State Capital Partners LLC for the proposed acquisition of all the shares of the company, other than treasury shares and shares held by substantial shareholder Irrucorp, via a scheme of arrangement. Procurri said it has not accepted the LOI and therefore has not commenced exclusive discussions with New State in relation to the proposed acquisition. Procurri shares last closed flat at S$0.305 on Friday.
Ezion Holdings: The offshore and marine company is expecting a fourth-quarter and full-year 2018 net loss amid uncertainty on whether its joint ventures can repay shareholder loans. The liftboat company is also expecting a “significant decrease” in net asset value due to a review in the fair value of its vessels. Ezion shares closed down 0.2 Singapore cent at S$0.052 on Friday.
Green Build Technology: The Singapore Exchange (SGX) has rejected Green Build Technology's two-month extension request for the announcement of the results for its 2018 financial year ending Dec 31, 2018. Green Build had made the request on Jan 4, 2019 to extend the deadline to May 1, but SGX's rejection on Monday means the company will announce its FY2018 results by the original date, Mar 1. It also extended long-stop dates for the acquisition of niches in Yea Eun Columbarium in Seoul, South Korea from Yea Eun Columbarium Co Ltd and a related convertible bond agreement. Green Build's shares last traded flat at S$0.18 on July 4, 2018.
Pine Capital Group: The catalist-listed company's chief operating officer (COO) has stepped down from the role after assuming the position in November last year. In a filing to the Singapore Exchange on Sunday, the financial services group said that its sponsor has conducted Jessie Sun May Gze's exit interview pursuant to the termination of her appointment as COO. Her last day with the company was Jan 31. She holds some 421.06 million shares in the company. Pine Capital shares closed flat at 0.1 Singapore cent on Friday.