Broadway Industrial Group’s Shareholders Alert: Final Offer Details
United Overseas Bank Limited, on behalf of Patec Pte. Ltd., has issued a crucial announcement regarding the acquisition of Broadway Industrial Group Limited. Here are the key highlights every shareholder needs to know:
Final Offer Price
The Offer Price has been firmly set at S\$0.197 per share, and Patec Pte. Ltd. has confirmed that there will be no increase in this price. This decision is in accordance with Rule 20.2 of the Singapore Code on Take-overs and Mergers, which means the terms of the Offer, including the Offer Price, cannot be amended.
Closing Date of the Offer
The Closing Date for the Offer is established as 5:30 p.m. (Singapore time) on 23 December 2024. The offer will not be extended beyond this date, and any acceptances received after this time will be rejected. Shareholders must act promptly to ensure their acceptances are received on time.
Current Shareholding Status
As of 12 December 2024, Patec Pte. Ltd. and its concert parties hold approximately 85.27% of Broadway Industrial’s total shares, totaling 389,757,308 shares. This includes valid acceptances amounting to around 42.18% of the total shares.
Procedures for Acceptance
Shareholders who have already accepted the Offer need not take any further action and can expect payment within seven business days. Those who wish to accept the Offer must ensure that their Acceptance Forms are received by the deadline. Specific instructions are provided for both CDP deposited shares and scrip form shares.
Important Notice for Investors
Shareholders using CPF Investment Scheme (CPFIS) or Supplementary Retirement Scheme (SRS) will receive acceptance instructions from their respective banks. Any misplaced forms can be requested from the relevant authorities.
Directors’ Responsibility
The directors of Patec Pte. Ltd. affirm that all statements in the announcement are accurate and that information has been carefully extracted from reliable sources.
This announcement could significantly impact Broadway Industrial’s share price as the finalization of the Offer Price and acceptance procedures are critical for shareholder decision-making.
