Fortis

Seow not become an independent director.

Seow not become an independent director.

Parkway Holdings’ said in a disclosure to the stock exchange on Tuesday that its non-executive vice chairman Richard Seow should not be an eligible contestant for an independent director of the Singapore firm due to his voting agreement with Fortis Healthcare.

Singapore’s stock exchange had earlier asked Parkway’s nominating committee, to verify if Mr Seow would be appropriate as an independent director.

The committee polled and the result was 3-1 against Mr. Seow continuing as an independent director. He however said that he has and wil in the future act independently.

Fortis Offers to Buy Parkway Shares for S$3.80 Each, Topping Khazanah Bid

Fortis Offers to Buy Parkway Shares for S$3.80 Each, Topping Khazanah Bid

Fortis Healthcare Ltd. had offered to buy all of Parkway Holdings Ltd. for S$3.80 a share .It topped a partial bid by Khazanah Nasional Bhd .It was for control of Asia's largest hospital operator.

As made in a statement, Fortis's offer has valued Singapore-based Parkway at S$4.3 billion ($3.1 billion) based on Bloomberg calculations.