Consistent Record Pte. Ltd. Initiates Compulsory Acquisition of Low Keng Huat (Singapore) Limited Shares

Key Developments in the Offer and Acquisition Process

• Consistent Record Pte. Ltd. (“Offeror”) has announced the compulsory acquisition of shares in Low Keng Huat (Singapore) Limited (“Company”), following a voluntary conditional general offer that achieved over 90% acceptance from non-Offeror shareholders.
• The final offer price for each share is S\$0.78 in cash. This price was revised and confirmed in announcements and written notifications leading up to the close of the offer.
• The offer closed at 5.30 p.m. (Singapore time) on 13 February 2026 and is no longer open for new acceptances.
• Compulsory acquisition is being enforced under Section 215(1) of the Singapore Companies Act. All shares held by dissenting shareholders (those who did not accept the offer) will be acquired at the final offer price.

Important Information for Shareholders

• Dissenting shareholders will have their shares acquired automatically:
  • Transfer will occur on or after 30 March 2026 (the “Transfer Date”), which is one month after the notice date.
  • No action is needed by shareholders for the transfer or payment process.
• Settlement Procedures:
  • If shareholders have subscribed to CDP’s Direct Crediting Services (DCS), payment will be credited directly to their designated bank accounts.
  • For those not subscribed to DCS, payment will be credited to their CDP Cash Ledger.
  • Shareholders holding scrip shares will receive a crossed cheque mailed to their address on record.
  • All payments will be made at shareholders’ own risk, and despatch of payment discharges the Offeror from liability.
• Rights Under Section 215(3) of the Companies Act:
  • Non-assenting shareholders have the right to require the Offeror to acquire their shares within three months of the notice (Form 58).
  • However, as the compulsory acquisition is proceeding, no action is required. Shareholders should seek independent advice if in doubt.
• Shareholders who have already accepted the offer or sold their shares should disregard the notice.

Potential Price Sensitivity and Impact on Share Value

• The compulsory acquisition at S\$0.78 per share sets a definitive price for remaining shares. Investors should note that this is the final offer price and represents the exit value for all remaining shareholders.
• Once the compulsory acquisition is completed, the Offeror will own 100% of the Company. This may trigger a delisting of Low Keng Huat (Singapore) Limited from the exchange, removing liquidity and tradability for minority shareholders.
• Investors should be aware that after the transfer date, they will no longer be shareholders of the Company. The forced acquisition is not optional and is executed under statutory rights.
• No further upside or downside from market price movements will be available to affected shareholders after the transfer date.

Further Actions and Advice

• No action is needed from dissenting or non-assenting shareholders regarding the forms provided (Form 57 and Form 58). Payment will be processed automatically.
• Shareholders who have questions or require clarification are advised to consult their stockbroker, bank manager, solicitor, accountant, tax adviser, or other professional adviser.

Conclusion

This compulsory acquisition marks a significant event for Low Keng Huat (Singapore) Limited shareholders, as it concludes the general offer and transitions the company to full ownership by Consistent Record Pte. Ltd. at S\$0.78 per share. Shareholders should be aware of the impact on share value, potential delisting, and the automatic settlement process.

Disclaimer

This article is for informational purposes only and does not constitute legal, financial, or investment advice. Investors are encouraged to seek independent professional advice regarding their specific situation. All information is based on official documents and announcements; accuracy is subject to official sources and market conditions.

View Low Keng Huat Historical chart here