Sias urges Fincantieri to extend offer period for Vard
Extension will allow shareholders to evaluate offer following SGX's review of EGM controversy
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Singapore
INVESTOR advocacy group Securities Investors Association Singapore (Sias) has called on Fincantieri Oil & Gas to extend the offer period for Vard Holdings following a messy extraordinary general meeting (EGM) on Monday.
On Wednesday, Citigroup, acting on behalf of Fincantieri, added to the confusion when it declared in the morning that the exit offer has become unconditional, only to correct itself later that night, saying the offer remains conditional given that the Singapore Exchange (SGX) is currently reviewing the EGM proceedings.
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