Date: June 17, 2022
SIAS has received enquiries from Hwa Hong’s shareholders on the recent Independent Financial Adviser (IFA) recommendations on the Voluntary Conditional Cash Offer. IFA says the offer of $0.40 is fair and reasonable and shareholders may accept the offer on 28 June 22 no later than 5.30pm.
SIAS has studied the circular and wishes to highlight para 10.6 of the circular on “Solicitation of potential competing offer(s) to maximise shareholder value for the benefit of all shareholders”. Shareholders and investors should await further information from the Board regarding its solicitation for competing offers to maximise shareholder value before making any decision on the offer and/or before making any decision to trade on the shares. In this respect, SIAS would urge the Board and its Advisers to keep shareholders updated in a timely manner on any relevant material developments before shareholders make their final decision.
Founder, President & CEO