Consistent Record Pte. Ltd. Voluntary Offer for Low Keng Huat (Singapore) Limited: Key Developments & Investor Implications
Consistent Record Pte. Ltd. Voluntary Conditional General Offer for Low Keng Huat (Singapore) Limited – Detailed Investor Update
Key Highlights from the Offer Announcement
- Offeror and Advisors: Consistent Record Pte. Ltd. (“Offeror”) is making a voluntary conditional general offer for all ordinary shares of Low Keng Huat (Singapore) Limited (“Company”), except those already owned, controlled, or agreed to be acquired by the Offeror. UOB Kay Hian Private Limited (“UOBKH”) is acting on their behalf.
- Final Offer Price: After revisions, the final offer price stands at S\$0.78 in cash per share.
- Offer Extension: The closing date for the offer has been extended to 5:30 p.m. (Singapore time) on 13 February 2026.
- Recent Acquisitions: On 3 February 2026, the Offeror acquired an additional 170,700 shares at S\$0.78 per share, representing approximately 0.02% of the company’s issued shares.
Shareholding Structure Post-Offer and Acceptances
As of 6.00 p.m. on 3 February 2026, the ownership and acceptances are as follows:
| Category |
Number of Shares |
% of Total Shares (738,816,000) |
| Offeror (before offer) |
400,245,345 |
54.17% |
| Concert Parties (before offer) |
160,938,752 |
21.78% |
| Shares acquired by Offeror (post offer announcement, up to 3 Feb 2026) |
79,633,800 |
10.78% |
| Valid acceptances by other shareholders |
62,249,208 |
8.43% |
| Valid acceptances by Concert Parties |
160,938,752 |
21.78% |
| Total shares owned/controlled/agreed to be acquired |
703,067,105 |
95.16% |
Important Information for Shareholders
- High Acceptance Level: The Offeror and its concert parties now control approximately 95.16% of the issued shares. This is a critical threshold, potentially allowing for compulsory acquisition of remaining shares and delisting the company from SGX-ST.
- Price Sensitivity: The offer price of S\$0.78 per share is likely to act as a cap for the share price until the offer closes. Investors should note that the substantial acceptance level and buyout price can significantly affect share liquidity and future trading.
- Limited Remaining Shares: With such a high percentage owned/controlled, remaining shareholders may face reduced liquidity or a potential squeeze-out scenario.
- Final Offer and Timeline: The offer is final – no further revisions to the price or terms are expected. Shareholders have until 13 February 2026 to accept.
- Disclosure and Verification: Acceptances from concert parties are pending verification, but total ownership is already above the 90% threshold typically required for compulsory acquisition under Singapore regulations.
Potential Share Price Impact & Strategic Considerations
- The movement to acquire over 95% of the company’s shares is a significant corporate event. With a probable path to delisting, the share price is expected to align closely with the offer price of S\$0.78, and liquidity may dry up rapidly as the offer closes.
- Shareholders who have not yet accepted the offer should carefully consider their position, as post-offer options may be limited, and market price may not exceed the offer price after closure.
- Any shareholder wishing to remain in the company should be aware of the risks related to minority ownership, including limited influence and possible forced sale.
Forward-Looking Statements & Risks
The announcement contains forward-looking statements regarding the future intentions and strategies of the Offeror. These are subject to significant risks and uncertainties, and actual outcomes may differ materially from expectations. Shareholders should not place undue reliance on these statements.
Contact for Enquiries
UOB Kay Hian Private Limited – Corporate Finance
Email: [email protected]
Disclaimer
This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell shares. Investors should consult their own financial advisers and consider their personal circumstances before making any investment decisions. The information is based on publicly available documents and may be subject to change.
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