LTC Corporation controlling shareholders plan takeover offer at S$0.925 per share

Singapore

A GROUP of LTC Corporation's controlling shareholders from the Cheng family plans to make a voluntary conditional cash offer of S$0.925 per share for all ordinary shares of the mainboard-listed company which engages in property rental and development, and steel trading in Singapore and Malaysia.

At that price, the offer from their bid vehicle Mountbatten Enterprises is more than the highest closing price of LTC shares since Jan 1998, and also represents a premium of 44.5 per cent over the stock's last close of S$0.64 on Feb 8.