SINGAPORE: Embattled water treatment firm Hyflux on Saturday (Feb 16) morning announced its closely-watched restructuring plan which it said would help to resuscitate the company, but retail investors told Channel NewsAsia that this will see them suffering massive losses.
According to an affidavit filed by founder-CEO Olivia Lum to the High Court on Friday, holders of Hyfluxs perpetual securities and preference shares will be allocated a cash payout of S$27 million and 10.26 per cent of the companys shares post-restructuring.
The latter includes a top-up of 1.26 per cent from Ms Lum and the companys board of directors, who had earlier said they would be contributing their stakes in the company, as well…
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