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Stocks to watch: Serrano, ISR Capital, OUE Lippo Healthcare
THE following stocks made announcements that may affect their trading on Tuesday when the market opens.
Serrano Limited: The Catalist-listed interior design and furniture firm has had its request to delay its annual general meeting from Nov 14 , 2017 to Feb 28, 2018, rejected by the Accounting and Corporate Regulatory Authority. Seranna said that it is appealing the decision. The company announced on Nov 7 that it was undergoing schemes of arrangement with its creditors, and had entered into an investment agreement with certain investors.
ISR Capital: A former director of ISR Capital who quit over a pay dispute is no longer a substantial shareholder of the company after selling a 13.61 per cent stake for about S$1.2 million in total. ISR, an investment services company, disclosed the transactions by David Rigoll on Tuesday before the market opened. Mr Rigoll was previously the company's largest shareholder. Mr Rigoll has been selling his shares in the company since he stepped down from his post in March over a pay dispute. ISR has alleged that the share sales breached an undertaking given by Mr Rigoll not to sell his shares.
OUE Lippo Healthcare: The healthcare services company on Tuesday issued clarifications to reports in The Edge newspaper, regarding the sale of a piece of land in Kuala Lumpur. The Edge had reported that the company "is shelving plans to develop a prime parcel of land located in the vicinity of Petronas Twin Towers and Jalan Bukit Bintang in Kuala Lumpur and putting it up for sale". OUE Lippo said that no decision has been made by the company to sell the land or to shelve any development plans.