Perennial CEO Pua Seck Guan and other substantial shareholders offer $0.95 a share to privatise company

SINGAPORE - Perennial's chief executive Pua Seck Guan is partnering with several other substantial shareholders, including Kuok Khoon Hong and Ron Sim, to take the company private.

It also represents a 95.1 per cent, 112.5 per cent, 124.1 per cent and 105.2 per cent premium over the 12-month, six-month, three-month and one-month volume-weighted average prices, respectively, up to May 15. The consortium owns or has secured irrevocable undertakings for 82.43 per cent of Perennial's shares, and Hopu will fund the cost of acquiring the remaining 17.57 per cent of Perennial.

Mr Pua has undertaken not to exercise his 20.4 million options outstanding to-date and instead accept the options proposal.

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