In today’s briefing:
- Hwa Hong (HWAH SP): Directors Recommend Offer. But Not Really …
Hwa Hong (HWAH SP): Directors Recommend Offer. But Not Really …
- The Circular, containing the IFA opinion and the directors’ recommendation, was despatched after close yesterday. The IFA says fair and the directors recommend shareholders accept the Offer.
- However … directors holding 29.26% of shares out do not intend to accept the Offer. The intention of an additional 10.9% held by Ong family members is not known.
- No word on Hong Leong Investment as to their 5.1% stake. The IFA notes the revised Offer terms are a 20.8% discount to the revalued NAV of S$0.5052/share
Before it’s here, it’s on Smartkarma
