The water treatment company on Friday asked Utico to set out its position ahead of the meeting.
Utico FZC., the Middle Eastern suitor for Singapore’s Hyflux Ltd., said the embattled water treatment company delayed a virtual townhall meeting to give a potential rival time to make an offer to some holders of preference shares and perpetual securities.
Hyflux delayed the townhall that was planned for Saturday to allow Pison Investments time to put forward its proposal, Utico said in a statement, urging for the meeting to go ahead as scheduled or postponed to Sunday. Pison last month said it was still keen to invest in Hyflux.
