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Tee International buyout fails to pull through at scheme meeting

In terms of the number of shares, the scheme draws 74.84% of support, short of the 75% required

Anita Gabriel

Published Mon, Aug 21, 2017 · 09:50 PM

Singapore

BY a narrow margin of votes, TEE International's proposed scheme of arrangement involving a buyout offer by its group chief executive and managing director Phua Chian Kin at 21.5 Singapore cents a piece failed to pull through at a scheme meeting on Monday.

The company announced on Monday that some 82.1 per cent of the number of shareholders present v…

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