Consistent Record Pte. Ltd. Launches Voluntary Conditional General Offer for Low Keng Huat (Singapore) Limited

Key Highlights from the Latest Dealings Disclosure and Level of Acceptances Update

Overview

Consistent Record Pte. Ltd. (“Offeror”), through UOB Kay Hian Private Limited (“UOBKH”) as its financial adviser, has made a voluntary conditional general offer for all the issued ordinary shares in Low Keng Huat (Singapore) Limited (“Company”), excluding those already owned, controlled, or agreed to be acquired by the Offeror.

The offer price has been revised upwards to S\$0.78 in cash per share, with the final closing date extended to 5.30 p.m. (Singapore time) on 13 February 2026. Investors should note that any acceptances received after this deadline will not be valid.

Key Developments

• Offer Price Final Revision: The Offeror announced a final revision of the offer price to S\$0.78 per share in cash. This is a critical detail for shareholders evaluating whether to accept the offer, as it represents the final price and could influence market sentiment and share price movements.
• Latest Share Purchases: On 29 January 2026, the Offeror purchased 316,000 shares on the SGX-ST, representing approximately 0.04% of the total issued shares of the Company. The acquisition was made at the revised offer price of S\$0.78 per share.
• Level of Acceptances and Resultant Shareholding: As at 6.00 p.m. on 29 January 2026, the combined holdings of the Offeror and its concert parties (including valid acceptances) amounted to 700,531,005 shares, representing approximately 94.82% of the Company’s issued capital. This figure is highly significant, as it means the Offeror is on the cusp of achieving near-complete control, which could lead to significant changes in the Company’s strategic direction.
• Concert Party Acceptances: Valid acceptances include substantial holdings from concert parties and directors, which have been disclosed in the offer document. These acceptances account for a major portion of the total shares now controlled by the Offeror.
• Potential Implications for Shareholders:
  • With over 94% acceptance, the Offeror may initiate compulsory acquisition procedures under Singapore law, potentially leading to delisting of the Company and reduced liquidity for remaining shareholders.
  • Shareholders who have not accepted the offer may be compelled to sell their shares at the final offer price, possibly missing out on future upside if the Company remains listed.
  • The revised price of S\$0.78 per share should be carefully reviewed in light of the Company’s net asset value, recent performance, and future prospects. Acceptance levels and near-total control by the Offeror are likely to be price-sensitive information and could cause further movement in the share price as the market digests the implications.

Responsibility Statement and Forward-Looking Information

The sole director of the Offeror has stated that all facts and opinions in the announcement are fair and accurate. However, shareholders should be aware that forward-looking statements, such as plans or projections regarding the future of the Company, are subject to known and unknown risks and uncertainties. Actual outcomes may differ materially from those indicated.

What Should Investors Do?

• Review the offer and your options: Consider whether you wish to accept the offer at S\$0.78 per share, especially given the high level of acceptances and likely changes to the Company’s status.
• Monitor Company Announcements: Stay alert for further official communications about compulsory acquisition, potential delisting, or strategic changes.
• Consult your financial adviser: The implications of accepting or rejecting the offer may vary based on your individual circumstances and investment horizon.

Conclusion

The voluntary conditional general offer by Consistent Record Pte. Ltd. for Low Keng Huat (Singapore) Limited is reaching its final stages, with a high acceptance rate and revised cash offer price of S\$0.78 per share. The possibility of compulsory acquisition and delisting is imminent, making this a critical juncture for shareholders. These developments are highly price-sensitive and could impact the value and liquidity of shares in the short term.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to review all official company documents and seek independent professional advice before making any investment decisions. The author and publisher accept no liability for any loss arising from reliance on this article or its contents.

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