Hanwha Ocean SG Holdings Pte. Ltd. Moves Towards Dominance: Dyna-Mac Holdings Shares in the Spotlight

In a bold move set to potentially shake up the market, Hanwha Ocean SG Holdings Pte. Ltd. is aggressively moving forward with its acquisition of Dyna-Mac Holdings Ltd. shares. United Overseas Bank Limited (UOB), acting on behalf of Hanwha Ocean SG Holdings, has announced significant developments in the voluntary unconditional cash offer for the issued shares of Dyna-Mac Holdings.

Key Developments

• As of 18 November 2024, Hanwha Ocean SG Holdings has received valid acceptances for 993,494,285 shares, which represent approximately 79.53% of the total issued shares of Dyna-Mac Holdings.
• The Offeror, along with its concert parties, now collectively own, control, or have agreed to acquire an aggregate of 1,078,341,585 shares, representing approximately 86.32% of the total number of issued shares.
• The offer remains open for acceptance until 5.30 p.m. (Singapore time) on 20 November 2024, with shareholders who have accepted expecting payment within seven business days after the unconditional date.

Implications for Shareholders

Shareholders should note the following crucial points which may influence share values:

• If the Offeror acquires over 90% of the total issued shares, the trading of Dyna-Mac Holdings shares may be suspended by SGX-ST. This could lead to significant market movements and potentially affect share prices.
• In the event of acquiring more than 90% of shares, Hanwha Ocean SG Holdings intends to compulsorily acquire all remaining shares and proceed to delist Dyna-Mac Holdings from SGX-ST.
• Shareholders who have not yet accepted the offer have until the closing date to do so and should consider the potential impacts on their investments.

Future Outlook

The actions taken by Hanwha Ocean SG Holdings indicate a strong push towards obtaining a controlling stake in Dyna-Mac Holdings. This aggressive acquisition strategy may lead to significant fluctuations in share prices, affecting shareholder valuations and market stability. Shareholders are advised to stay informed and consider consulting with financial advisors to navigate the potential implications.

View Dyna-Mac Historical chart here