Consistent Record Pte. Ltd. Makes Voluntary Conditional General Offer for Low Keng Huat (Singapore) Limited: Major Developments for Shareholders

Key Highlights

• Consistent Record Pte. Ltd. (the Offeror), through UOB Kay Hian Private Limited, has launched a voluntary conditional general offer for all issued shares of Low Keng Huat (Singapore) Limited not already owned, controlled, or agreed to be acquired by the Offeror.
• The offer price has been finalised at S\$0.78 in cash per share, as announced on 13 January 2026.
• The final extension of the closing date for the offer is set at 5:30 p.m. (Singapore time) on 13 February 2026.

Dealings and Acceptances Update

• On 19 January 2026, the Offeror purchased 1,071,600 shares on the SGX-ST at the offer price of S\$0.78 per share, representing about 0.15% of the total issued shares of the company.
• As at 6:00 p.m. (Singapore time) on 19 January 2026:
  • Offeror’s direct holdings before the offer: 400,245,345 shares (54.17%)
  • Concert Parties’ holdings before the offer: 160,938,752 shares (21.78%)
  • Shares acquired by Offeror since announcement: 14,471,900 shares (1.96%)
  • Valid acceptances from shareholders (excluding Concert Parties): 45,181,350 shares (6.12%)
  • Valid acceptances from Concert Parties: 160,938,752 shares (21.78%)
  • Total shares owned, controlled, or agreed to be acquired by Offeror (including acceptances): 620,837,347 shares (84.03% of the issued capital)
• The total issued share capital of Low Keng Huat (Singapore) Limited stands at 738,816,000 shares.

Critical Information for Shareholders

• Offeror now controls approximately 84.03% of the company. This significantly surpasses the usual threshold for “majority control,” and has direct implications for shareholders:
  • If the Offeror’s shareholding crosses 90%, it may trigger a compulsory acquisition of remaining shares and potential delisting of the company from SGX-ST.
  • Minority shareholders are strongly encouraged to consider accepting the offer, as liquidity in shares may decrease sharply, and the company could be privatised.
• The offer price of S\$0.78 per share represents the final offer, with no further revisions announced. Shareholders should assess whether this price reflects fair value relative to current market conditions and company prospects.
• The final closing date is 13 February 2026. Shareholders who wish to accept must do so before this deadline.
• Any further purchases or acceptances may push the Offeror’s holding even higher, potentially affecting the free float and future trading of Low Keng Huat shares.

Forward-Looking Statements & Risks

• The announcement contains various forward-looking statements regarding intentions, strategies, and expectations. Actual outcomes may differ materially due to risks and uncertainties.
• Investors should not place undue reliance on these statements, and should monitor further developments closely.

What Investors Need to Watch

• Will the Offeror reach or exceed 90%? This is crucial, as it may lead to a compulsory acquisition and delisting.
• Share liquidity concerns: With such a high percentage held by Offeror and Concert Parties, the remaining free float is limited.
• Final acceptance deadline: Shareholders have until 13 February 2026 to decide.
• Potential share price movement: The offer price sets a near-term ceiling unless market participants anticipate a counter-offer or material new information.

Contact Information

Any inquiries regarding this offer should be directed to UOB Kay Hian Private Limited, Corporate Finance, at [email protected].

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with professional advisors before making any investment decisions. The information is based on the latest available announcement and may be subject to change. The author is not responsible for any losses or damages arising from reliance on this article.

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