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Bromat Holdings Appoints Independent Financial Adviser for Cash Offer

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Bromat Holdings (SGX:9I7) has appointed Novus Corporate Finance as the independent financial adviser for the mandatory unconditional cash offer by its non-executive director, Frank Liu Tao, according to a Tuesday filing to the Singapore stock exchange.

Last month, Tao reached a global settlement agreement with Valiant Investments and Michael Koh Tat Lee, triggering a mandatory unconditional cash takeover offer for all remaining shares of the company.

Under the terms of the corporate transaction, the director will extend an offer of SG$0.031 per share in cash, taking his stake in the company to 80.69%.

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