voluntary conditional cash offer

Memtech minority shareholders should take $1.35 cash offer, says CGS-CIMB

SINGAPORE (May 29): CGS-CIMB Research says minority shareholders of Memtech International (MTEC) should take the cash offer of $1.35 per share, which the brokerage deems to be a “fair” offer price and an “attractive cash exit opportunity”.

“While we like MTEC for its material science expertise in liquid silicone rubber (LSR) and its diversified customer base, we think its near-term outlook could be weighed down by ongoing trade tensions and a global auto slowdown,” says analyst Ngoh Yi Sin.

Courts Asia gets 20.5 cents per share offer from Tokyo-listed Nojima

SINGAPORE (Jan 18): Courts Asia, the regional purveyor of furniture and household and IT appliances, has received a 20.5 cents voluntary conditional cash offer from Nojima Asia Pacific for all its issued and outstanding ordinary shares.

The offer price represents an approximately 34.9% premium above the closing price of 15.2 cents on the last trading date of Wednesday and an approximately 23.3% premium above the volume weighted average price (VWAP) per share over the six-month period prior to and including the last trading date.

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

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.

Founding family of Sim Lian offers $1.08 per share to take company private

SINGAPORE (Aug 9): Kuik Ah Han, the founder and executive chairman of Sim Lian Group, is taking the property developer and construction company private.

Coronation 3G, the investment holding company owned by Kuik and his family, has announced a voluntary conditional cash offer of $1.08 to buy back all the outstanding shares it does not own.

The offer price is about 15% higher than Sim Lian’s last traded price of 94 cents and values the company at $1.09 billion.

Low trading liquidity of its shares is cited as a reason for its move to privatise and delist the company.

Trading of NOL shares suspended as free float falls below 10% after offer closes

SINGAPORE (July 19): Neptune Orient Lines says trading of its shares has been suspended at the close of the voluntary conditional cash offer by CMA CGM S.A.

See CMA CGM crosses 90% ownership threshold of NOL, to proceed with compulsory acquisition and delisting

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