Offer to acquire Singapore Medical Group has become unconditional
(Morning News) Investment company TLW Success' offer to buy Singapore Medical Group has become unconditional.
According to Singapore Medical Group's announcement on Monday (November 28), TLW Success, owned by three senior executives of the group, now controls about 91.421% of the group's issued shares and about 90.004% of the potential maximum issued shares. The acquisition offer made by TLW Success has therefore become unconditional, and the deadline for accepting the acquisition offer is December 19, which is the final deadline.
As the acquirer already controls more than 90% of the equity, the acquirer will exercise its right in due course to force the acquisition of the shares held by the shareholders who did not accept the offer at a purchase price of 0.40 yuan per share. In addition, the acquirer does not intend to retain the listing status of the group.
Singapore Medical Group shares rose 1.27% to 0.40 yuan on Monday.