Fraser and Neave Hong Kong unit fails to get approval for privatisation

The proposal for Frasers Property (China) Limited's privatisation was not approved by the requisite majority at a court meeting. It was also disapproved by more than 10% of the votes attaching to all the shares held by the independent shareholders.

The Scheme Document, together with the Letter from the Joint Offerors, have been despatched on 5 July 2012 to the Shareholders and the Optionholders.

Following the results of the court meeting, the scheme of arrangement in relation to the privatisation proposal cannot be implemented and has therefore lapsed.

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