SINGAPORE (Feb 16): Hyflux said its chief executive officer Olivia Lum volunteered to contribute her entire stake of 267 million shares and other securities in the embattled water-treatment company as part of a restructuring plan.
Lum and the board of directors said all their preference shares and perpetual capital securities are to be distributed solely to all other holders upon completion of the proposed revamp, according to a Feb 16 stock exchange filing.
Under the restructuring plan filed by Hyflux with the High Court, ordinary shareholders of Hyflux will receive 2.74% of shares in total.
