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BRC Asia offers 42 cents per share for all Lee Metal shares

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BRC Asia offers 42 cents per share for all Lee Metal shares

Stanislaus Jude Chan Published on Wed, Feb 21, 2018 / 4:27 PM GMT+8

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SINGAPORE (Feb 21): BRC Asia is making a voluntary conditional cash offer of 42 cents a share for all the issued shares in Lee Metal Group.

The offer price represents a 2.4% premium over Lee Metal’s last traded price of 41 cents on Tuesday.

It is also a 32.9% premium above the volume weighted average price (VWAP) for the 12-month period prior to Lee Metal’s last undisturbed trading day on Nov 10, 2017, when an announcement was made regarding a notification by certain shareholders of an unsolicited approach in relation to their shares.