UOB Completes Mandatory Unconditional Cash Offer for Broadway Industrial Group

Key Points:

United Overseas Bank Limited (UOB) has completed the mandatory unconditional cash offer for Broadway Industrial Group Limited (the “Company”).
The Offeror, Patec Pte. Ltd., has acquired an aggregate of 439,841,054 shares, representing approximately 96.22% of the total number of shares in the Company.
The offer price is final, and the Offeror does not intend to increase the offer price.

Important Updates for Shareholders:

The right of dissenting shareholders to exercise their Section 215(3) Right has expired at 5:30 p.m. (Singapore time) on 10 April 2025.
Shareholders who did not accept the offer and wish to dissent from the acquisition should note that the Section 215(3) Right has expired.
The Company’s shares are no longer in free float, and trading suspension and listing status have been triggered.

Offer Details:

The offer announcement was made on 28 October 2024, and the offer document was issued on 11 November 2024.
The offer became unconditional in all respects on 14 November 2024.
The closing date of the offer was 23 December 2024, and the Offeror did not extend the closing date.

Shareholding Update:

As at 5:30 p.m. (Singapore time) on 10 April 2025, the Offeror and persons acting in concert with it owned, controlled or agreed to acquire an aggregate of 439,841,054 shares, representing approximately 96.22% of the total number of shares in the Company.

Cautionary Note:

Shareholders and investors should not place undue reliance on forward-looking statements, which are subject to known and unknown risks and uncertainties.
Disclaimer: The information contained in this article is for general information purposes only and is not intended to be relied upon as investment advice. The article does not constitute an offer or solicitation to buy or sell any securities. Investors should do their own research and consult with a financial advisor before making any investment decisions. The author and publisher disclaim any liability for any losses or damages arising from the use of this article.

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