Tat Hong

Tat Hong: proposed to acquire all the remaining 30% shares of thinly traded ASX-listed Tutt Bryant Group (TBG) that it does not already own, at an offer price of A$0.92/sh (46% premium to the last close price of A$0.63). Dividend payable of A$0.02/sh will also accrue to the current TBG shareholders. The acquisition will cost Tat Hong up to A$39m in total. Transaction expected to be earnings accretive; company estimates EPS +3.9% to S7.48cts, NTA/sh +4.7% to S$0.817. vs S$0.935 last traded.