CIMC stands its ground on Pteris RTO
Opposing director Winston Tan wants five board members removed, claims takeover terms unattractive
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 shareholder of Pteris - said yesterday that it would not engage in "any further negotiations to change the terms of this legally binding agreement".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gold holds steady as investors focus on US Fed meeting
Singapore shares open in the red on Tuesday; STI down 0.3%
Huawei’s pivotal role in the US-China tech war, from 5G to chips
CDL Hospitality Trusts reports 6.8% higher Q1 net property income of S$34.9 million
Starhill Global Reit posts 0.9% lower Q3 net property income of S$37.7 million
Binance and CZ’s fortunes are set to grow, jail or no jail