Parkway

An independent governance analysis by Glass, Lewis & Co - which serves institutional investors who collectively manage over US$17trn in assets, commented that Khazanah's US$835m partial offer for PWAY is "unfavorable", and recommends sh/h not to accept the offer. This is in-line with PWAY's independent adviser Morgan Stanley, which noted that Khazanah's offer is "not compelling" Glass, Lewis & Co notes that remaining minority sh/h would be left in an untenable position to Khazanah's strategic decisions for the co, fair or unfair, and would have allowed Khazanah to acquire control of PWAY without offering a control premium to all other sh/h. Advocates that investors should oppose the partial offer as a means to force Khazanah and/or Fortis to present a general offer. PWAY in trading halt this morning, at the request of RHC Healthcare, a Fortis JV.