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Hanwha's Offer for Dyna-mac Shares Declared Unconditional as to Acceptances

Singapore Business Review ·  Nov 5 12:33

The closing date for the offer has been extended to 20 November.

Hanwha's offer for the shares it does not own in Dyna-Mac has been declared unconditional as to acceptances.

The offer made on 11 September has satisfied the minimum acceptance condition of Hanwha holding more than 50% of the issued shares at the initial close date of the offer on 6 November.

Hanwha has received valid acceptances of 554,004,556 shares, amounting to more than 50% of Dyna-mac shares.

At the offer date, Hanwha held 282,859,400 Dyna-mac shares, representing approximately 22.69% of the total issued shares.

As of 4 November, Hanwha holds an aggregate of 638,851,856 shares, representing approximately 51.25% of the total number of issued shares and approximately 50.94% of the maximum potential issued share capital of Dyna-mac.

The offer will remain open for at least 14 days after the original closing date on 6 November at 5:30 pm, which is now extended to 20 November at 5:30 pm.

However, the offer has not become unconditional in all respects as it remains conditional upon the Competition and Consumer Commission of Singapore's (CCCS) issuance of a "favourable decision" during its preliminary assessment under the CCCS Guidelines on merger procedures.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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