Sias wants Hyflux to organise town hall for perpetuals and preference share holders

It also proposes that Hyflux set up S$1.5m in escrow for the investor advocacy group's adviser fees

Fiona Lam

Published Fri, Mar 6, 2020 · 09:50 PM

Singapore

THE Securities Investors Association (Singapore) or Sias has invited Hyflux to organise a town hall with retail holders of its preference shares and perpetual securities (PnP), to better understand and respond to the investors' concerns and queries.

In a letter to the troubled water treatment firm, Sias president and chief executive officer (CEO) David Gerald proposed that a town hall be convened between March 11 and 17.

Thereafter, the investor advocacy group and its advisers will hold small group meetings with the PnP holders to continue discussions on Utico's proposed deal, Mr Gerald wrote.

He requested that Hyflux be responsible for all costs incurred in organising the town hall.

Sias also suggestedthat Hyflux establish an escrow account and place S$1.5 million in it for the Sias adviser's fee…