Lucrum 1 Investment makes pre-conditional offer for Cityneon shares

SINGAPORE-LISTED Cityneon Holdings Ltd says Lucrum 1 Investment Ltd has made a pre-conditional mandatory general offer for all the shares of the former that are not already bought.

This comes as Lucrum, an investment holding company incorporated in the British Virgin Islands, on Friday entered into a conditional share purchase agreement with Laviani Pte Ltd, where the latter will sell 128.5 million shares or its 52.51 per cent stake in Cityneon for S$0.90 apiece, in a deal valued at S$115.6 million.

Lucrum's pre-conditional mandatory offer will not be made if the pre-condition is not fulfilled on or before Oct 31 this year, Cityneon said in a filing to the Singapore Exchange on Friday.