GPH offer terms fair but not compelling, says financial adviser

PROVENANCE Capital, the independent financial adviser tasked with reviewing the offer for Global Premium Hotels (GPH), said that the financial terms of the offer were "fair" but "not so compelling".

GPH's chairman, Koh Wee Meng, has sought to acquire shares in GPH for 33 cents apiece through a voluntary unconditional cash offer.

In a circular, Provenance Capital advised shareholders taking a short-term view to accept the offer or sell their shares on the open market. However, those prepared to take a longer-term view may want to retain all or part of their shareholdings in GPH, it added.