A Monday Straits Times article reported Utico is offering “part cash redemption and also a hope for full redemption with a plan and exit option” to the 3,400 retail investors of Hyflux’s perpetual securities and preference shares.
SINGAPORE (May 28): Embattled water company, Hyflux on Tuesday clarified in a Singapore Exchange filing that its recent meeting with Utico did not entail any binding agreements or conclusive number on how much its investors will be getting.
The regulatory statement was made on the back of a statement issued by Utico, which said it had met with Hyflux’s financial and legal advisors, as well as the Securities Investors Association Singapore (Sias) and others last week.
