VibroPower Shares Surge as Offer Turns Unconditional

In a significant development for VibroPower Corporation Limited, the Offeror, Mr. Benedict Chen Onn Meng, has declared his mandatory conditional cash offer for the company’s shares as unconditional. As of December 16, 2024, Chen received valid acceptances for 45,036 Offer Shares, tipping his total holdings to approximately 50.03% of the total issued shares of the company.

This marks a pivotal moment as Rule 14.2 of the Code is satisfied, ensuring that Chen holds more than 50% of the total voting rights. This is a crucial factor that shareholders need to be aware of as it might influence the share value significantly.

The Warrants Offer is set to proceed, with conditions met that allow for the exercise of warrants until the closing date of January 9, 2025. The cumulative total number of warrants accepted so far stands at 4,150, representing about 0.0539% of outstanding warrants.

Importantly, the offer and warrants offer will not be extended beyond the closing date, with any acceptances received after 5:30 p.m. being rejected. This definitive timeline and the resultant holdings of over 50% could potentially lead to market movements, as shareholders and potential investors react to these developments.

For CPFIS and SRS investors, it is crucial to respond to their respective agent banks promptly to ensure payment for their Offer Shares or Warrants is processed into their investment accounts.

In conclusion, the Offeror emphasizes his commitment to transparency and accuracy, ensuring that all statements in the announcement are fair and reliable. This announcement could have a significant impact on the market perception and valuation of VibroPower Corporation Limited shares.

For further inquiries, shareholders can contact [email protected] during office hours.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making investment decisions.

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