PSC Corporation Ltd.: Key Notification on Divested Shares Payment for Eligible Shareholders

Overview

PSC Corporation Ltd. (“PSC” or the “Company”) shareholders have received an important notification regarding a
monetary compensation scheme—termed the “Divested Shares Payment”—that could significantly affect both investor sentiment and the valuation of the Company’s shares.
The notification, issued on 27 March 2026 by Deloitte Singapore SR&T Restructuring Services Pte. Ltd. (“Deloitte”), acting as Administrator for Dr. Goi Seng Hui (the “Offeror”), details a remedial action following a mandatory conditional cash offer and subsequent regulatory review.

Key Highlights for Investors

• Compensation for Past Share Sales: Shareholders who held PSC shares as of the market close on 4 December 2023 (“Entitled Shareholders”) and subsequently sold those shares below S\$0.40 per share during the period from 5 December 2023 to 10 July 2025 (“Entitled Period”) may be entitled to receive a cash payment equal to the difference between the offer price (S\$0.40) and their sale price, multiplied by the number of shares sold.
• Scope of Offer: This payment scheme addresses the fact that an offer under Rule 14 of the Singapore Code on Take-overs and Mergers was not made when Dr. Goi Seng Hui made certain share purchases between 4 December 2023 and 14 November 2024. Eligible shareholders who missed out on selling into the offer are now being compensated.
• Eligibility and Calculation: Eligibility is strictly based on shareholding as of 4 December 2023 and the sale of those shares below S\$0.40 during the relevant period. The payment is calculated using a first-in-first-out (FIFO) method, ensuring only shares held before the initial purchase date are eligible.
• Claim Process: Shareholders must register and submit claims via Deloitte’s ClaimsView platform by 5:30 p.m. (Singapore time) on 24 April 2026. Alternative physical submission is possible if online registration fails.
• Verification & Appeals: Deloitte will verify claims in partnership with The Central Depository (Pte) Ltd (“CDP”). Results will be available by 15 June 2026. There is a four-week appeal period for shareholders to contest or accept outcomes.
• Payment Timeline: Payments will be made after acknowledgment or successful appeal, directly to the bank account provided by shareholders. All related costs, taxes, and bank charges are borne by claimants.
• Special Instructions for CPFIS/SRS and Depository Agent Investors: Those holding shares through CPF, SRS, or depository agents must claim through their agent or bank, following instructions provided directly by those entities.

Potential Price Sensitive Points and Impact on Share Value

• Restoration of Value to Past Sellers: By compensating shareholders who sold below the offer price, the scheme may restore confidence among retail and institutional investors regarding fair play and regulatory oversight in PSC’s corporate actions.
• Cash Outflows and Financial Impact: The quantum of total payments could affect the Company’s or Offeror’s cash flow, depending on the number of claims and the total amount paid out. This could have short-term financial implications.
• Market Perception: The move is likely to be viewed favorably as a remedial action ensuring shareholder rights are respected. However, it also highlights past procedural lapses, which may affect governance perceptions.
• Deadline-Driven Event: The claim deadline and payment dates are critical. Investors should monitor announcements for any extension or changes to the timeline, as this could influence liquidity and trading activity in the near term.
• Potential for Share Price Movement: The announcement, and subsequent payments, could affect trading volumes and share price as previously disadvantaged shareholders are compensated and as the market reassesses the Company’s governance and cash position.

Detailed Timeline and Procedures

1. By 24 April 2026: All claims and consents must be submitted online or physically to Deloitte.
2. By 15 June 2026: Results of claims will be released via ClaimsView.
3. Four weeks after results: Shareholders may submit appeals or accept the outcome.
4. Payment: Upon acceptance or successful appeal, payment will be made to the verified bank account.

Important Considerations for Shareholders

• Responsibility for Correct Information: Shareholders are responsible for providing accurate bank details and necessary documentation. Errors may result in non-payment or liability for recovery costs.
• Discretion and Risk: The Administrator has full discretion to accept or reject claims and is not liable for communications lost in transmission or errors in submission.
• Personal Data: By participating, shareholders consent to the use of their personal data for claim verification and regulatory purposes.
• Right to Claw Back: If overpayment or misrepresentation is discovered, the Offeror may demand repayment, with all recovery costs borne by the claimant.
• Professional Advice: Shareholders uncertain about their eligibility or the process are strongly advised to consult their professional advisers.

Contact Information

For further queries, contact Deloitte Singapore SR&T Restructuring Services Pte. Ltd. at [email protected] or the Offeror at +65 6880 9866 (Mon-Fri, 8:30am – 4:30pm Singapore time).

Disclaimer

This report is for informational purposes only and does not constitute investment advice. Investors are advised to read all official notifications in full and consult with professional advisors regarding their individual circumstances before making any investment decision. The author and publisher do not accept any liability for actions taken based on this article.

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