Teckwah directors recommend shareholders accept privatisation bid

Singapore

THE independent directors of Teckwah Industrial Corporation are recommending shareholders accept a voluntary conditional cash offer of S$0.65 per share from Clementine Investments, which is looking to take the mainboard-listed company private.

The offer closes at 5.30pm on Sept 30. The offer price is final and Clementine Investments will not increase the offer price, said Teckwah, a packaging, printing and logistics company, in a circular issued to shareholders late on Tuesday.