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CIMC stands its ground on Pteris RTO

Opposing director Winston Tan wants five board members removed, claims takeover terms unattractive

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Mr Tan, who has proposed replacements for the board members he wants to remove, has said his team can find new funds for the ailing firm. He has been accumulating shares of Pteris, and now controls about 10 per cent of the company - PHOTO: ST

Singapore THE Chinese group behind a contentious reverse takeover (RTO) involving Pteris Global has put its foot down on the terms of the deal, against claims by a Pteris director that the current proposal undervalues the firm. China International Marine Containers (CIMC) Group - the largest