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Phillip Capital Morning Note - 30 Sept 2019

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Publish date: Mon, 30 Sep 2019, 09:13 AM
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Britain's government knows the outline of what it sees as a possible deal to leave the European Union, Michael Gove, the minister in charge of planning for a no-deal Brexit, said on Sunday.

City Developments Limited (CDL) on Friday announced that it will compulsorily acquire the remaining shares for its London-listed subsidiary Millennium & Copthorne (M&C) held by shareholders who have not yet accepted the final offer of 685 pence per share.

THE Securities Investors Association (Singapore) or Sias clarified on Sunday in a statement that it does not, in fact, support the Hyflux restructuring agreement by potential white knight Utico at this stage as previously reported.

XMH Holdings will be disposing its 80 per cent shareholding interest in its loss-making subsidiary Z-Power Automation (ZPA) for a nominal sum of S$1 to individual Goo Koh Chai.

SECOND Chance Properties intends to undertake a proposed bonus issue of free warrants to subscribe for new shares in the company to raise a maximum of S$1.13 billion in gross proceeds.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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