reports
Update: Options exercise triggers mandatory offer
Forterra has received an offer from New Precise Holdings (a wholly owned subsidiary of Nan Fung International) to acquire all outstanding issued units (other than those already owned) at a price of S$1.85 in cash. The offer is a mandatory requirement under the Singapore Code on takeovers and mergers following the exercise of options by New Precise Holdings that increases its holding to slightly more than 30%. An offer document will soon be sent to shareholders and the board will seek the advice ...
Update: Adapting to retail environment
2014 continues to see Forterra focused on the development of its primary site, The Place, expected to deliver a significant uplift in revenue and group profitability. Management has adapted to the weaker macroeconomic and retail environment by upgrading the planned facilities and slightly refocusing the targeted tenant mix (towards food and beverage and offerings for children), designed to maximise rental income over the longer term. The opening timelines have also been realigned to coincide wit...
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