Low Keng Huat (Singapore) Limited: Compulsory Acquisition, Offer Details, and Impending Delisting

Key Points for Investors

• Compulsory Acquisition Exercised: Consistent Record Pte. Ltd. (the “Offeror”), through UOB Kay Hian Private Limited, has exercised its right to compulsorily acquire all remaining shares of Low Keng Huat (Singapore) Limited (“the Company”) not already owned or agreed to be acquired by the Offeror.
• Offer Price Finalised: The final offer price for each share is set at S\$0.78 in cash.
• Delisting Imminent: The Company has received approval from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed delisting from the Mainboard. The date and time of the delisting will be announced in due course.
• Payment Mechanics: Dissenting shareholders (those who did not accept the offer) will receive payment for their shares by direct credit through CDP or via cheque for scrip holders.

Detailed Summary

UOB Kay Hian Private Limited, acting for Consistent Record Pte. Ltd., has formally announced the exercise of its right to compulsorily acquire all outstanding shares in Low Keng Huat (Singapore) Limited under Section 215(1) of the Companies Act. This follows the voluntary unconditional general offer process, which began with the offer announcement on 28 November 2025 and concluded with the offer closing on 13 February 2026.

The key milestones in the offer process include:

• Offer Announcement: 28 November 2025 – Launch of the voluntary conditional general offer.
• Offer Document Issued: 17 December 2025 – Full terms and conditions shared with shareholders.
• Offer Price Revision: 13 January 2026 – Offer price increased to S\$0.78 per share and final extension of the closing date to 13 February 2026.
• Compulsory Acquisition Announcement: 27 February 2026 – Notice issued regarding intent to compulsorily acquire remaining shares at S\$0.78 per share.
• SGX-ST Delisting Approval: 6 March 2026 – Official approval received for the company’s delisting.

Implications for Shareholders

• All shareholders who did not accept the offer (Dissenting Shareholders) will have their shares compulsorily acquired at S\$0.78 each.
• Payment will be made as follows:
  • For shares held through CDP: Payment will be credited to the shareholder’s designated bank account via CDP’s Direct Crediting Service (DCS), or otherwise according to their existing arrangements with CDP.
  • For shares held in scrip form: Payment will be made by cheque sent to the address registered with the company’s share registrar.
• After the completion of the compulsory acquisition, all shares will be registered in the name of the Offeror (and any persons they may direct).
• The Company will be delisted from the Mainboard of SGX-ST. The actual date and time of delisting will be announced separately.

Potential Share Price Impact and Price Sensitivity

• Final Offer Price: The acquisition price is fixed at S\$0.78 per share. This is now the effective value for all remaining shares and sets a clear floor for the exit price for existing shareholders.
• Delisting: The upcoming delisting will remove the Company’s shares from public trading, making them illiquid for any remaining minority holders who, for any reason, have not yet received payment.
• Investment Decision: Investors should note that following delisting, there will be no further market in the shares. Shareholders who have not yet taken action will be paid S\$0.78 per share as part of the compulsory acquisition process.

Next Steps for Shareholders

• No further action is required from dissenting shareholders. Payment will be processed automatically as described above.
• Shareholders are advised to ensure their bank account details with CDP or the company’s share registrar are up to date to facilitate timely receipt of payment.
• Any queries regarding the process or payment should be directed to UOB Kay Hian Private Limited’s Corporate Finance team at [email protected].

Responsibility Statement

The sole director of the Offeror has affirmed that all information in this announcement is accurate and that due care has been taken to ensure fairness and transparency in the disclosure.

Forward-Looking Statements Disclaimer

This article may contain forward-looking statements that reflect the Offeror’s current expectations about future events. Actual outcomes may differ materially from those expressed or implied in such statements due to various risks and uncertainties. Investors are advised not to place undue reliance on these statements, and no obligation is undertaken to update them in light of new information or future developments.

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