Olive Tree Estates Receives Mandatory Unconditional Cash Offer: Major Shareholder Shake-Up Looms

Key Takeaways for Shareholders

• Mandatory Unconditional Cash Offer Launched: Advansory Investment Pte. Ltd., via Evolve Capital Advisory Private Limited, has made a mandatory unconditional cash offer for all issued and paid-up ordinary shares of Olive Tree Estates Limited, other than those already owned or controlled by the Offeror and its concert parties.
• Electronic Dissemination Only: The Offer Document and related forms will only be distributed electronically, with no printed copies sent to shareholders. All documents are accessible via the SGX website.
• Key Deadline: The offer closes at 5:30 p.m. (Singapore time) on 28 November 2025. The Offeror has stated it does not intend to extend the offer beyond this date—this is a hard stop unless a competitive situation arises.
• Acceptance Procedures: Shareholders must use the provided forms and follow outlined procedures to accept the offer. Individual and joint-alternate holders with shares deposited with CDP may also submit electronically via the SGX Investor portal.
• Overseas Shareholder Considerations: Shareholders outside Singapore must adhere to local laws and may need to request documents to be sent to a Singapore address. All taxes and duties in their jurisdiction are their responsibility.
• Independent Advice Pending: The views of independent directors and the independent financial adviser (IFA) will be provided within 14 days of the offer document despatch. Shareholders are advised to consider this advice before acting.
• CPFIS and SRS Investors: Investors using CPF or SRS accounts will receive instructions from their respective agent banks, and should note that their deadline to accept may be earlier than the general closing date.

Detailed Analysis: What Investors Need to Know

The offer made by Advansory Investment Pte. Ltd., through their financial adviser Evolve Capital Advisory, is a mandatory unconditional cash offer for all remaining shares in Olive Tree Estates Limited. This means that regardless of acceptance level, the Offeror is obliged to purchase all validly tendered shares. The move follows the requirements of Rule 14 of the Singapore Code on Take-overs and Mergers, usually triggered when a party crosses a prescribed ownership threshold.

Electronic-Only Communication and Response Required

In line with regulations enabling electronic dissemination, no physical copies of the Offer Document or acceptance forms will be mailed. Shareholders must access the documents via the SGX website by searching for “Olive Tree Estates Limited” in the company announcements section. If you have not received the notification letter or relevant forms, you must contact the Central Depository (CDP) or Boardroom Corporate & Advisory Services, depending on whether your shares are in scrip or CDP form.

Shareholders should be diligent in retrieving these documents and acting before the strict deadline. Failure to respond before 5:30 p.m. on 28 November 2025 will mean missing the opportunity to participate in the offer.

Acceptance Procedure: Important Steps

• CDP Shareholders: Complete and return the Form of Acceptance and Authorisation (FAA) using the provided envelope, or submit electronically via the SGX Investor portal.
• Scrip Shareholders: Complete and return the Form of Acceptance and Transfer (FAT) using the provided pre-addressed envelope.
• Overseas Shareholders: Must ensure compliance with local laws and may need to arrange for documents to be sent to a Singapore address at their own risk. They are fully responsible for any taxes or duties imposed by their jurisdiction.

Potential Pricing and Market Sensitivity

Price Sensitivity Alert: The announcement and terms of a mandatory unconditional cash offer are typically significant, as they may lead to substantial changes in company ownership, control, and future direction. The offer price (not specified in this announcement) will be a key factor influencing share price volatility and trading volumes leading up to the closing date. Shareholders should watch for further announcements detailing the offer price and terms.

In addition, the Offeror has made it clear that the offer will not be extended beyond the closing date, except in a competitive situation. This urgency may drive market action as arbitrageurs and investors position themselves ahead of the deadline.

Independent Advice to Follow

Within 14 days of the despatch of the Offer Document, the company’s independent directors and the appointed independent financial adviser (IFA) will issue their views and recommendations regarding the offer. Investors are strongly advised to wait for and review this advice before making a final decision, as it will assess the fairness and reasonableness of the offer.

Regulatory and Legal Notes

The offer and related documentation are subject to Singapore law and the Singapore Code on Take-overs and Mergers. The offer is not open to shareholders in jurisdictions where it would be illegal to do so. Any such persons must not forward or distribute offer documentation in or from restricted jurisdictions.

Forward-Looking Statements

The announcement contains forward-looking statements regarding the Offeror’s intentions and expectations. Shareholders should note that actual results may differ from those anticipated, and are advised to exercise caution in relying on such statements.

Conclusion: Act Promptly and Stay Informed

This mandatory unconditional cash offer for Olive Tree Estates is a pivotal event that could reshape the company’s ownership structure. The outcome may affect the share price, trading dynamics, and future corporate strategy. Shareholders should:

• Retrieve all relevant documents electronically and review them carefully.
• Note the firm acceptance deadline of 28 November 2025 at 5:30 p.m. Singapore time.
• Watch for the forthcoming independent advice and the full terms of the offer, including the offer price.
• Consider seeking independent professional advice if in doubt.

Failure to act within the timeline may result in missing out on the offer, which could have major financial implications, especially if the offer price is at a premium.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice or a solicitation to buy or sell any securities. Investors should review all official offer documents, consider the independent advice to be issued, and consult their own professional advisers before making any investment decisions. The author and publisher accept no liability for any actions taken based on this information.

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