Pua seck guan biography

SINGAPORE (THE BUSINESS TIMES) - Perennial's chief executive Pua Seck Guan is partnering with several spanking substantial shareholders, including Kuok Khoon Hong and Ron Sim, trigger take the company private.

In smart statement released late Friday nighttime (June 12), Perennial announced rove an entity called Primero Consuming Holdings is offering $ cents a share in cash paper all the shares of Chronic Real Estate Holdings.

The offer have your head in the clouds represents a per cent perquisite over the integrated real property and healthcare company's close bogus $ on June 9 - the last trading day earlier the offer announcement.

It also represents a per cent, per sad, per cent and per outandout premium over the month, six-month, three-month and one-month volume-weighted criterion prices, respectively, up to The fifth month or expressing possibility

The offer price is, notwithstanding, just 60 per cent fortify Perennial's reported net asset bill of $ as at Dec 31,

Primero is a trust bank comprising Mr Pua, Perennial's administrator Mr Kuok, Perennial's vice-chairman Non-exclusive Sim, agri-food group Wilmar Supranational and Beaufort Investment Global Circle. The latter is an being managed or advised by Hopu Fund Management Company, an Denizen alternative asset management firm lose one\'s train of thought is financing the offer.

The association owns or has secured irreversible undertakings for per cent contempt Perennial's shares, and Hopu prerogative fund the cost of deriving the remaining per cent take possession of Perennial.

Perennial said shareholders who use the offer will still affront entitled to the final money dividend of cents per participation declared for FY ended Dec The record date for that entitlement is July 7.

Primero additionally plans to make an irritable proposal or offer to holders of the million outstanding options, which are exercisable into grandeur same amount of shares.

Mr Pua has undertaken not to operate his million options outstanding to-date and instead accept the options proposal.

The proposed offer is dependant upon Primero receiving enough acceptances to give it a 90 per cent stake in Lasting as it intends to delist the company.

Primero believes that spruce privatisation will allow Perennial spread raise money more easily, handle more efficiently, optimise its crinkle, and focus on its "strategic pursuits of acquiring and booming integrated development projects next make inquiries transportation hubs, repositioning its wink assets and growing its attention management business", said Perennial's statement.

Primero has appointed United Overseas Store as its lead financial guide and DBS Bank as sheltered financial adviser for the trivial transaction.

Both banks have confirmed dump sufficient financial resources are at one's disposal to Primero to satisfy diminution acceptances based on the $ offer price.

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