Ennoconn Corporation, through DBS Bank Ltd., is making a mandatory unconditional cash offer to acquire all issued and paid-up ordinary shares of Nera Telecommunications Ltd., except for those already owned or agreed to be acquired by Ennoconn and its concerted parties.
The offer price is S$0.075 per share.
The Independent Directors of Nera Telecommunications, supported by the advice of SAC Capital (the Independent Financial Adviser), recommend that shareholders reject the offer, as they deem the offer price to be not fair and not reasonable.
Important Dates:
- Offer Closing Date: 23 October 2024, 5:30 p.m. (Singapore time).
- Settlement Date: If the offer is accepted, settlement of the cash consideration will occur within seven business days following receipt of valid acceptances.
No Revision of Offer: The Offeror has stated that it does not intend to revise the offer price or extend the offer beyond the closing date, unless in a competitive situation.
Investors’ Action: Shareholders who wish to accept the offer must submit their acceptance forms no later than 5:30 p.m. on 23 October 2024. Those who reject the offer should take no further action.
