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Revisions

Cityneon announces new board after independent directors advised to reject cash offer

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Cityneon announces new board after independent directors advised to reject cash offer

Stanislaus Jude Chan Published on Fri, Aug 11, 2017 / 12:03 PM GMT+8

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SINGAPORE (Aug 11): Cityneon Holdings on Friday announced a change of board leadership with the appointment of new directors.

This comes just one day after its independent directors urged shareholders to reject a mandatory unconditional cash offer from Lucrum 1 Investment, a consortium led by Cityneon’s executive director and group chief executive director, Ron Tan.

See: Cityneon independent directors advise shareholders to reject Lucrum’s 90 cents offer

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