Fischer Tech's takeover offer scheme is fair, says independent financial adviser

THE appointed independent financial adviser of Fischer Tech's takeover offer by Platinum Equity at S$3.02 a share in cash via a scheme of arrangement said that the scheme is fair and reasonable and that it is not prejudicial to the interests of shareholders.

Provenance Capital Pte Ltd also advised the directors to recommend shareholders to vote in favour of the scheme, as outlined in an appendix in the scheme document dated Sept 20, 2017 which has been despatched to shareholders on Wednesday.

It said that its opinion, as disclosed in the letter, is based solely on publicly available information and information provided by the directors and the management and therefore does not reflect any projections of future financial performance of the company or the group after the completion of the scheme.