SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday :
Geo Energy Resources: Coal producer Geo Energy Resources has acquired a majority stake in two South Sumatra coal mines for US$25 million . The company will pay for the acquisition with its existing cash, comprising US$2.5 million for a refundable deposit payable upon execution of the purchase agreement, and US$22.5 million once the deal is completed, it said. The counter closed flat at 14.8 cents on Friday.
PACC Offshore Services Holdings : An event of default on a loan granted to POSH's joint venture has triggered a cross-default under a second loan facility by another lender to the joint venture. POSH had announced that the 50 per cent-owned joint venture POSH Terasea was in default on a US$27.6 million loan as at Sept 17.
Y Ventures: Catalist-listed Y Ventures said on Monday that it is placing 24.7 million new shares in the company at 8.12 cents each to raise around $2 million. The placement price represents a discount of around 9.98 per cent from the counter's volume-weighted average price of 9.02 cents on Sept 17, the last full market day prior to the subscription date. The new shares also represent about 10.74 per cent of Y Venture's enlarged share capital.
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