Public Financial Holdings Limited (PFHL) has named Somerley Capital Limited as the Independent Financial Adviser (IFA) for the proposed privatisation of the company by Public Bank Berhad. The transaction is structured as a scheme of arrangement under section 99 of the Bermuda Companies Act 1981.

Somerley Capital is licensed by Hong Kong’s Securities and Futures Commission to conduct Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities. Its formal advice will be included in the forthcoming Scheme Document that will be dispatched to shareholders.

The board reiterated that completion of the privatisation proposal remains subject to all stated conditions being satisfied or, where applicable, waived by the long-stop date. Accordingly, the scheme may or may not become effective, and shareholders were urged to exercise caution when dealing in PFHL securities.

As of 14 September 2026, PFHL’s board comprises three Non-Executive Directors—Lai Wan (Chairman), Quah Poh Keat and Lee Huat Oon—one Executive Director, Chong Yam Kiang, and three Independent Non-Executive Directors, Lee Chin Guan, Lim Chao Li and Phe Kheng Peng.