Vard says valuation error 'immaterial', no confusion on delisting vote

Singapore

VARD Holdings said on Friday that an error in its independent financial adviser's (IFA) report would not have changed the adviser's opinion, and that there should have been no confusion at its recent shareholders' meeting about whether a delisting vote was taking place.

Vard issued its announcement in response to a Business Times article that reported on the shareholders' meeting, in which some shareholders had voiced concerns about whether the meeting and the vote were properly carried out.