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Chew's Group controlling shareholder in negotiations over share transaction

THE controlling shareholder of Chew's Group has entered into negotiations with a third party over a possible transaction of shares.

In a Singapore Exchange filing on Thursday, the Catalist-listed firm which produces eggs said: "To-date, no definitive agreements have been entered into between the parties, and shareholders should note that there is no certainty that any transaction may be consummated in connection with the negotiations between parties and/or an offer being made."

In July, Chew's announced that the controlling shareholder had been approached for a possible transaction involving the shares of the company that may or may not lead to an offer being made for the shares by the third party or parties.

In the announcement on Thursday, Chew's added that further announcements will be made by the company as and when there are any material developments.

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The company said that shareholders are advised to "exercise caution when dealing in the shares, and to refrain from taking any action in respect of their shares which may be prejudicial to their interests".

"Shareholders who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers."

Chew's closed trading at S$0.605 on Thursday, down S$0.005 or 0.82 per cent.