SINGAPORE, June 19 (Bernama-BUSINESS WIRE) — We, Hibiki Path Advisors Pte. Ltd. (“Hibiki”) manages and/or advises certain entities with aggregate holding of 7.6% of Accordia Golf Trust (“AGT”) shares as of 17th June, 2020. As one of the minority non-conflicted unitholders of AGT, Hibiki is currently actively engaging the trustee manager of AGT, Accordia Golf Trust Management (“AGTM”), expressing our deep concern on current situation.
Back in 28th Nov 2019, AGTM announced that they have received a non-binding bid proposal, later revealed as from the parent company, Accordia Golf Co., Ltd, and they have formed an independent committee to review on the proposal on 13th Jan 2020. Since then AGTM has not been forthcoming to provide updates on the status of the non-binding bid proposal and had been questioned by Singapore Exchange – Securities Trading (“SGX-ST”) on several occasions.