The shareholders of Keppel Corporation have spoken.
At the group’s extraordinary general meeting (EGM) held at 10.30am on Dec 9, 98.22% of shareholders who hold a total of 380.91 million shares voted in favour of the proposed acquisition of Singapore Press Holdings (SPH).
Some 387.81 million shares were represented by votes cast at the EGM.
According to a statement released by Keppel, the group says it is “grateful for the strong support from its shareholders” for the acquisition, which it called a “win-win proposition” for shareholders in both Keppel Corporation and SPH.
On SPH’s end, a scheme meeting, where shareholders were slated to vote for or against the Keppel acquisition was initially scheduled to take place on Dec 8.
An announcement made by SPH on Nov 24 stated that the meeting had been postponed. No new date has been set.
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Keppel, on Nov 16, previously called its final offer a “compelling one” following Cuscaden’s raised offer for SPH on Nov 15.
As at 3pm, shares in SPH are trading at $2.32, while shares in Keppel are trading at $5.23.
Photo: Samuel Isaac Chua/The Edge Singapore
