CosmoSteel Holdings Faces Compulsory Acquisition: What Shareholders Need to Know as 3HA Capital Moves for Full Control
Key Points Retail Investors Must Know
- 3HA Capital Private Limited to Compulsorily Acquire All Remaining Shares of CosmoSteel Holdings
- Compulsory acquisition will occur at a cash price of S\$0.25 per share
- Offer has closed; no further acceptances will be considered
- Shareholders who did not accept the offer will have their shares acquired automatically
- Key dates and actions for dissenting shareholders
- Potential delisting and loss of liquidity for remaining shareholders
Full Breakdown of the Compulsory Acquisition Announcement
Retail investors in CosmoSteel Holdings Limited face a significant development as 3HA Capital Private Limited has triggered a compulsory acquisition of all outstanding shares, following a successful takeover offer that saw them secure not less than 90% of the company (excluding shares already held by the offeror and related parties).
Background and Offer Details
The original voluntary offer was made via an offer document dated 5 June 2025, with a later revision of the offer price communicated on 30 June 2025. The offer closed at 5:30pm on 1 August 2025, and no further acceptances will be entertained.
The final offer price is set at S\$0.25 in cash per share. This price will be paid to all shareholders whose shares are being compulsorily acquired.
Who is Affected? What Happens Next?
If you are a shareholder who did not accept the offer before the closing date, you are classified as a dissenting shareholder. 3HA Capital will now exercise its right under Singapore’s Companies Act (Section 215) to acquire your shares at the same price as the offer.
Key dates:
- Compulsory acquisition will occur on or after 15 September 2025 (one month from the date of notice).
- Dissenting shareholders will receive payment (S\$0.25 per share) after the transfer date, via CDP’s Direct Crediting Service (DCS) or a cheque if shares are held in scrip form.
No action is required from shareholders for this process.
Shareholder Rights and Important Forms
Two key forms are enclosed with the notice:
- Form 57: Notice to Dissenting Shareholder – outlines the compulsory acquisition process.
- Form 58: Notice to Non-Assenting Shareholder – informs you of your right to require the offeror to acquire your shares (if you wish to exercise this right, you must do so by 5:30pm on 15 November 2025).
Why is This Price Sensitive?
This announcement confirms the inevitable delisting of CosmoSteel Holdings and the forced buyout of all minority shareholders at S\$0.25 per share. For investors, this means:
- Share liquidity will cease once the company is private—no more trading on the open market.
- Share price is effectively fixed at S\$0.25; any market trading before delisting (if possible) will reflect this terminal value.
- Potential for arbitrage or last-minute trading is eliminated—if you did not accept the offer, your shares will be acquired at the stated price.
- If you disagree with the acquisition price or process, you are strongly encouraged to seek independent legal advice.
What Should Shareholders Do Now?
If you still hold CosmoSteel shares and did not accept the offer:
- You do not need to take any action—the process is automatic.
- Your shares will be transferred to 3HA Capital, and you will receive the offer price in cash.
- If you wish to exercise your rights under Section 215(3) of the Companies Act, you must act by 15 November 2025.
Potential Impact on Share Price
With the offer closed and 3HA Capital moving to acquire all outstanding shares, CosmoSteel Holdings is effectively being taken private. This marks the end of public trading in the counter, and the S\$0.25 per share price now represents the only exit value for remaining investors. This is a definitive, price-sensitive event for all retail holders.
Conclusion
Retail investors should note the finality of this acquisition—there is no further upside or trading opportunity in CosmoSteel Holdings shares. All remaining shares will be compulsorily acquired at S\$0.25 each, with payment procedures laid out clearly in the official notice. If you need further advice, consult your financial adviser or legal counsel immediately.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should consult their own advisers before making any investment decisions. The author and publisher assume no responsibility for actions taken based on the information contained herein.
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