The Deadline That Shareholders Can’t Afford to Miss
According to the announcement, Dissenting Shareholders who have not yet exercised their Section 215(3) rights under the Companies Act have until 5:30 pm (Singapore time) on April 10, 2025, to do so. [[2]]This right, which allows minority shareholders to be bought out by the majority shareholder at a fair price, will expire after this date, leaving Dissenting Shareholders with no further recourse.
Key Details Shareholders Need to Know
The announcement provides clear instructions for Dissenting Shareholders on how to exercise their Section 215(3) rights, depending on whether their shares are held with the Central Depository (Pte) Limited (CDP) or in scrip form. [[3]] Shareholders are urged to act quickly to ensure their forms are submitted before the looming deadline.
Notably, the Offer Price for the buyout has been declared as final, and the Offeror has stated that it does not intend to increase the Offer Price. [[1(d)]] This information could be crucial for shareholders in determining whether to accept the offer or seek an alternative valuation.
Potential Impact on Share Prices
The impending deadline and the finalization of the Offer Price could have a significant impact on the trading and valuation of Broadway Industrial Group’s shares. Shareholders who fail to exercise their Section 215(3) rights by the deadline may find themselves locked into their investment, with limited options for exiting their position.
Conclusion
Broadway Industrial Group shareholders are advised to carefully review the information provided in the announcement and take immediate action to exercise their Section 215(3) rights if they wish to be bought out at the Offer Price. The clock is ticking, and the window of opportunity is closing fast.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Shareholders should consult with their financial advisors before making any decisions regarding their investment in Broadway Industrial Group.
