Consistent Record Pte. Ltd. Makes Major Move in Voluntary Conditional General Offer for Low Keng Huat (Singapore) Limited

Key Highlights from the Latest Offer Announcement

• Final Offer Price Set at S\$0.78 Per Share: Consistent Record Pte. Ltd. (“Offeror”), through UOB Kay Hian Private Limited (“UOBKH”), has announced the final revision of its voluntary conditional general offer price for all issued and paid-up ordinary shares of Low Keng Huat (Singapore) Limited not already owned, controlled, or agreed to be acquired by the Offeror. The final offer price is S\$0.78 in cash for each share.
• Offer Deadline Extended: The closing date for the offer has been extended to 5.30 p.m. (Singapore time) on 13 February 2026. Shareholders have until this date to accept the offer.
• Substantial Purchases by the Offeror: On 23 January 2026, the Offeror acquired 3,372,700 shares on the SGX-ST at S\$0.78 per share, representing approximately 0.46% of the company’s total share capital.
• Offeror’s Shareholding Now at 93.39%: As at 6.00 p.m. on 23 January 2026, the Offeror and its concert parties collectively own, control, or have received valid acceptances for 690,000,438 shares—about 93.39% of Low Keng Huat’s total issued shares.
• Breakdown of Shareholdings and Acceptances:
  • Offeror held 400,245,345 shares (54.17%) before the offer.
  • Concert parties held 160,938,752 shares (21.78%).
  • Offeror acquired 77,814,800 shares (10.53%) post offer announcement, up to 23 Jan 2026.
  • Valid acceptances from shareholders excluding concert parties total 51,001,541 shares (6.90%).
  • Concert parties provided valid acceptances for 160,938,752 shares (21.78%).

Important Information for Shareholders

• Potential Compulsory Acquisition: With the Offeror’s shareholding now exceeding 90%, investors should be aware that under Singapore’s takeover regulations, the Offeror may be entitled to compulsorily acquire the remaining shares, leading to a possible delisting of Low Keng Huat (Singapore) Limited.
• Share Price Implications: The offer price of S\$0.78 per share is likely to act as a price anchor for the stock until the offer closes. The high level of acceptances and acquisitions suggests limited upside beyond this offer price. Any remaining minority shareholders may face reduced liquidity and potential for delisting.
• Final Extension Deadline: Shareholders who have not yet accepted the offer should note that the final closing date has been set, and there will be no further extensions. Decisions need to be made before 5.30 p.m. on 13 February 2026.
• Forward-Looking Statements: The announcement contains forward-looking statements regarding future intentions and strategies. Shareholders and investors are cautioned not to place undue reliance on these statements, as actual outcomes may differ due to various risks and uncertainties.

Investor Considerations

The dramatic increase in the Offeror’s ownership—now at 93.39%—is a critical threshold and signals a near-total control of the company. This development is highly price-sensitive and will be of significant interest to both current and prospective shareholders, especially those considering whether to accept the offer or hold out as a minority investor. The potential for compulsory acquisition and delisting means that the free float and liquidity of shares could be severely affected post-offer.

Shareholders are strongly encouraged to review their positions and consult their advisers in light of these developments, as the outcome of this offer will likely determine the future trading status and corporate control of Low Keng Huat (Singapore) Limited.

Contact Information

For any inquiries relating to this offer, shareholders may contact UOB Kay Hian Private Limited, Corporate Finance, at [email protected].

Disclaimer

This article summarises material developments from official announcements regarding the voluntary conditional general offer for Low Keng Huat (Singapore) Limited. The information herein is intended for informational purposes only and should not be construed as financial advice. Investors should conduct their own due diligence and consult with professional advisers before making any investment decisions. The article may contain forward-looking statements which are subject to risks and uncertainties; actual results may differ materially. Neither the reporter nor the publisher assumes any responsibility for investment decisions made based on this article.

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