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Hatten Land Secures Whitewash Waiver for Metrocon Deal

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Hatten Land (SGX:PH0) received a whitewash waiver from the Securities Industry Council (SIC) in connection with its subsidiary, LBD Engineering's, proposed acquisition of Metrocon, according to a Wednesday filing with the Singapore Exchange.

Under the waiver conditions, independent shareholders must approve a whitewash resolution at a general meeting before the issuance of shares.

The company is also required to appoint an independent financial adviser to advise independent shareholders on the proposed resolution.

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