Cityneon shareholders advised to reject offer
Independent directors say financial terms of Lucrum 1 Investment's offer are "not fair and not reasonable"
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Singapore
INDEPENDENT directors of Cityneon Holdings Limited, a specialist in neon lighting and interactive exhibits, recommended that shareholders reject the mandatory unconditional cash offer from Lucrum 1 Investment.
The recommendation was in line with the advice given by RHT Capital, the independent financial adviser (IFA) to the independent directors, which said the financial terms are "not fair and not reasonable".
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