PwC will advise Sim Lian’s independent directors in relation with the voluntary conditional cash offer for all outstanding shares of the company. (Photo: Sim Lian Group)
PricewaterhouseCoopers (PwC) has been appointed by Sim Lian Group (SLG) as its independent financial adviser (IFA) to advise the independent directors in relation with the voluntary conditional cash offer for the company.
An investment holding company owned by the Kuik family and led by Kuik Ah Han, Founder and Executive Chairman of SLG, is seeking to privatise and delist the property developer.
On 8 August, Coronation 3G announced a voluntary cash offer of S$1.08 per share for all outstanding shares of SLG that it doesn’t already own.
In an SGX filing, SLG revealed that a circular containing the IFA’s advice and recommendation of the independent directors will be sent to the shareholders within 14 days from the date of dispatch of the offer document.
Meanwhile, the company is advising shareholders to “refrain from taking any action in relation to their shares, which may be prejudicial to their interests until they or their advisers have considered the information and the recommendations of the independent directors, as well as the advice of the IFA which will be set out in the offeree circular”.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
