Kreuz

Kreuz: Kreuz received approval from SGX on its application for delisting as part of its proposed scheme of arrangement after Swiber, its previous parent, sold out its entire 57.5% stake to SEA9, an investment vehicle of a pan-Asian private equity fund advised by Headland Capital Partners at $0.80/share. As at the latest announcement on 5 Nov '13, SEA9 had received 73.69% valid acceptances on their offer, just shy of the conditional 75% approval of the scheme by shareholders. Shareholders should expect Provenance Capital's recommendation on the offer as Kreuz's independent financial adviser, following its appointment on 11 Nov '13.