VibroPower Shareholders Alert: Mandatory Conditional Cash Offer Announcement
VibroPower Corporation Limited has announced a mandatory conditional cash offer for all issued and paid-up ordinary shares in its capital, excluding treasury shares and those already owned by the Offeror, Mr. Benedict Chen Onn Meng, and his concert parties. This move, which follows the Offer Announcement on November 21, 2024, is in accordance with Singapore’s securities regulations and could have significant implications for shareholders.
The Offeror has also extended an offer to holders of outstanding warrants, excluding himself and his concert parties, in line with the rules of the Singapore Code on Take-overs and Mergers. An independent financial adviser, SAC Capital Private Limited, has been appointed to provide advice to independent directors regarding the Offer and the Warrants Offer. This is crucial for shareholders and warrantholders to consider as it affects their holdings in the company.
Shareholders should note that the Offer Document and Warrants Offer Letter, dated December 12, 2024, will be electronically dispatched. These documents will detail the terms and conditions of the Offer and Warrants Offer, and will be available on the SGXNet and the company’s website.
Additionally, a hardcopy notification with instructions for retrieving these documents electronically has been sent out. The Offeree Circular, containing advice from the independent financial adviser and recommendations from independent directors, will be disseminated within 14 days of the document dispatch date. This document is vital for shareholders and warrantholders to review before making any decisions.
The directors of VibroPower have emphasized the importance of exercising caution when dealing in shares and warrants during this period. Shareholders and warrantholders are advised to refrain from taking any action until they have thoroughly considered the information in the Offeree Circular and sought professional advice if needed.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Shareholders and investors should conduct their own research or consult with their financial advisors before making investment decisions.
