Watary directors get offer

WATARY International Holdings says the controlling shareholders have been approached by an independent third party for the acquisition of more than 35 per cent of the issued share capital of the company.

Company chairman Jack Lee Chun-wing and two other directors, Lawrence Lee Chun-kwong and Raymond Lui Wing-tak, had been approached, it said.

The controlling shareholders have indicated that they would be prepared to discuss such an acquisition but no agreement has been reached.

If the controlling interest is acquired, then a general offer must be made to all shareholders under the Code on Takeovers and Mergers.