Kingyue’s Acquisition of Samko Timber: What the 69% Stake Means for Shareholders

Key Points from the Mandatory Unconditional Cash Offer Announcement

• Kingyue International Holding Pte. Ltd. (“Kingyue”), through Evolve Capital Advisory, has completed a mandatory unconditional cash offer for Samko Timber Limited.
• The offer closed at 5.30 p.m. (Singapore time) on 9 September 2025. No further acceptances will be processed after this deadline.
• Final acceptances received: 198,124,722 shares, equivalent to approximately 2.29% of Samko Timber’s total shares.
• Kingyue and its concert parties held 5,785,730,849 shares (about 66.91% of total shares) before the offer.
• No additional shares were acquired by Kingyue or its concert parties after the offer was announced.
• Post-offer, Kingyue and its concert parties now control 5,983,855,571 shares, representing approximately 69.21% ownership of Samko Timber.
• The percentage calculations are based on Samko Timber’s total issued shares of 8,646,408,068.

What Does This Mean for Samko Timber Shareholders?

This is a pivotal development for Samko Timber’s retail investors:

• Majority Control: With Kingyue now holding over two-thirds of Samko Timber’s shares, the company has effective control. This level of ownership could allow Kingyue to influence or even determine major corporate decisions, including the appointment of directors, management changes, dividend policies, and potential restructuring.
• Possible Impact on Share Price: Such a significant shift in control is typically price-sensitive. The market may react to the possibility of strategic changes, potential delisting, or future buyouts. Shareholders should closely monitor for announcements regarding management intentions or further offers.
• Offer Closed: If you did not accept the offer by the deadline, you will remain a minority shareholder. Future liquidity and exit options may become more limited, especially if Kingyue pursues further consolidation or a delisting.
• No Additional Shares Acquired Post-Announcement: The final tally reflects only the shares tendered during the official offer period. There was no additional buying after the offer announcement, suggesting Kingyue relied solely on the offer to increase its stake.

Potential Price-Moving Events to Watch For

• Further Consolidation: Investors should watch for any signals that Kingyue intends to increase its stake further, perhaps through market purchases or another offer.
• Delisting Risk: With over 69% control, Kingyue is approaching thresholds that could allow it to initiate a voluntary delisting or a compulsory acquisition. This could affect share liquidity and value for minority holders.
• Corporate Actions: Majority control may lead to changes in strategy, asset sales, or other actions that could impact the company’s value and future prospects.

Directors’ Statement and Corporate Responsibility

The directors of Kingyue have explicitly stated they accept full responsibility for the accuracy and fairness of the information presented. They confirm that all statements have been carefully considered and that no material facts have been omitted.

Conclusion

The close of this mandatory cash offer marks a significant turning point for Samko Timber Limited. Kingyue’s increased stake to 69.21% is likely to have a lasting impact on corporate governance, future strategy, and possibly the share price. Retail investors should remain vigilant for updates, especially regarding potential delisting, further buyouts, or strategic changes.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult with a financial adviser before making investment decisions. The author makes no representation or warranty as to the accuracy or completeness of the information provided.

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