Friday, February 7th, 2025

Revised Offer at S$0.67 for Dyna-Mac Holdings Ltd by Hanwha Ocean SG: Key Dates and Shareholder Guidance

Key Facts from the PDF Reports

  1. Voluntary Conditional Cash Offer:

    • United Overseas Bank Limited (UOB) is acting on behalf of Hanwha Ocean SG Holdings Pte. Ltd. (the “Offeror”) for a voluntary conditional cash offer to acquire all issued ordinary shares of Dyna-Mac Holdings Ltd. (“the Company”) not already owned or controlled by the Offeror.
    • Initial offer price: S$0.60 per share.
    • Revised offer price: S$0.67 per share.
  2. Key Dates:

    • Offer Announcement Date: 11 September 2024.
    • Formal Offer Document issued on: 2 October 2024.
    • Revision Announcement made on: 14 October 2024.
    • New closing date for the offer: 6 November 2024.
    • Deadline for despatch of Offeree Circular extended to: 23 October 2024.
  3. Appointment of Independent Financial Adviser (IFA):

    • ZICO Capital Pte. Ltd. was appointed on 18 September 2024 to advise independent directors.
    • The Offeree Circular containing the IFA’s advice and independent directors’ recommendations will be sent by 23 October 2024.
  4. Investor Guidance:

    • Shareholders who have accepted the offer will receive the revised price of S$0.67 per share.
    • Shareholders are advised to exercise caution and consult professional advisers before taking any action regarding their shares until the Offeree Circular is reviewed.
  5. Special Note for Investors:

    • The Offeror has declared no intention to further revise the offer price beyond S$0.67 unless a competitive situation arises.

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