Key Points and Latest Developments
- Final Offer Price Set at S\$0.78 Per Share: The Offeror, Consistent Record Pte. Ltd., acting through UOB Kay Hian Private Limited, has revised the offer price to S\$0.78 in cash for each ordinary share in Low Keng Huat (Singapore) Limited (“LKHS”). This final price revision was communicated to shareholders on 20 January 2026 and confirmed in subsequent announcements.
- Offer Closing Date Extended: The final extension of the offer’s closing date is set at 5.30 p.m. (Singapore time) on 13 February 2026. Shareholders who wish to accept the offer must do so before this deadline.
- Recent Share Acquisitions: On 2 February 2026, Consistent Record Pte. Ltd. acquired an additional 4,700 shares on the SGX-ST at S\$0.78 per share. While this acquisition is not material in terms of percentage, it reflects continued active purchasing by the Offeror.
- Aggregate Shares Under Control: As at 6.00 p.m. on 2 February 2026, the Offeror and its concert parties collectively own, control, or have agreed to acquire a total of 702,053,805 shares, representing approximately 95.02% of LKHS’s issued share capital. This includes shares acquired before the offer, further acquisitions since the offer announcement, and valid acceptances from shareholders.
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Breakdown of Shareholdings:
- Offeror held 400,245,345 shares (54.17%) before the offer announcement.
- Concert Parties held 160,938,752 shares (21.78%) before the offer announcement.
- Subsequent acquisitions by the Offeror since announcement: 79,463,100 shares (10.76%).
- Valid acceptances from other shareholders: 61,406,608 shares (8.31%).
- Concert Parties also submitted acceptances for their shares: 160,938,752 shares (21.78%).
Important Information for Shareholders
- Threshold Exceeded for Compulsory Acquisition: With the Offeror and its concert parties now controlling over 95% of LKHS, shareholders should be aware that this level of acceptance could trigger the right for the Offeror to compulsorily acquire remaining shares, leading to a potential delisting of LKHS. Such a scenario is highly price-sensitive and may affect the value and liquidity of any remaining shares not tendered in the offer.
- Last Chance to Tender Shares: Shareholders who have not yet accepted the offer should carefully consider their position before the closing date of 13 February 2026. Failure to accept could result in holding illiquid shares or being subject to compulsory acquisition.
- No Guarantee of Future Performance: The announcement contains forward-looking statements regarding expectations, intentions, and strategies of the Offeror. These are subject to risks and uncertainties, and actual outcomes may differ materially.
Implications for Share Price and Next Steps
The successful acquisition of 95.02% of LKHS by Consistent Record Pte. Ltd. is a significant development and is highly likely to move the share price. Investors should monitor for further announcements regarding possible compulsory acquisition and delisting. The final offer price of S\$0.78 per share now acts as a benchmark for LKHS share valuation in the short term.
If you have questions regarding the offer or its implications, you may contact UOB Kay Hian Private Limited Corporate Finance at [email protected].
Disclaimer
This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should do their own due diligence and consult with professional advisers before making investment decisions. The information herein is based on data available as at 2 February 2026 and may be subject to change.
