THE following companies saw new developments that may affect trading of their securities on Monday (Dec 9):
CapitaLand China Trust (CLCT): The manager has appointed Gerry Chan as its CEO and an executive non-independent director with effect from Jan 1, 2025. The 48-year-old was appointed as deputy CEO on Sep 1. In an exchange filing on Friday, the manger said Chan’s latest appointment is part of its regular succession and leadership renewal process. Chan will succeed Tan Tze Wooi, who will be redesignated as a non-executive non-independent director. Units of CLCT closed at S$0.715, down 0.7 per cent or S$0.005, before the filing.
Lendlease Global Commercial Reit (Lendlease Global Reit): The manager has entered into agreements for up to S$760 million in sustainability-linked term and revolving facilities. This includes a senior unsecured loan of up to S$420 million, with an accordion feature of up to S$200 million, and another for up to S$140 million. A debt facility’s accordion feature, or incremental facility, allows borrowers to expand total commitments under the credit agreement to accommodate incremental debt. The manager said in a filing on Friday the loans will be used to refinance the real estate investment trust’s existing debts. Units of Lendlease Global Reit closed at S$0.56, down 0.9 per cent or S$0.005, before the news.
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