Hyflux rejects Utico's townhall meeting request

Uploaded By:  Frances Gagua Submitted By:  Frances Gagua Case Study:  No UAE-based firm asked to first address concerns raised by SIAS, other creditor groups. Hyflux has rejected would-be white knight Utico’s request to announce and hold an immediate townhall meeting with preference shares and perpetual capital security (P&P) holders, the water firm said in a letter posted at the Singapore Exchange. In the letter posted on 9 October, Hyflux said that Utico “is yet to convince the MTN ISC (advisors) and/or the UWG (unsecured working group) to support its current offer.” read more