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Firm behind reverse takeover of Pteris Global will not revise offer

Published on Apr 18, 2014 10:18 PM

The parent of the company that is making a reverse takeover (RTO) of Pteris Global has come out to say that it does not intend to renegotiate the deal.

Chinese manufacturer China International Marine Containers (CIMC) said this in a letter in response to a move by Pteris major shareholder and director Winston Tan to remove five fellow directors over the RTO deal at an extraordinary general meeting (EGM) on April 25.

Tianda Group, which makes passenger boarding bridges at airports, proposed an RTO of Pteris last year.

Tianda is owned by CIMC.

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