Mandatory Unconditional Cash Offer for Bromat Holdings Ltd.: What Investors Need to Know

Key Highlights of the Offer

• Offeror: Frank Liu Tao (the “Offeror”) has launched a mandatory unconditional cash offer to acquire all the issued and paid-up ordinary shares in the capital of Bromat Holdings Ltd. (“the Company”), except those already owned, controlled, or agreed to be acquired by the Offeror and his concert parties.
• Offer Price: S\$0.031 per Offer Share, payable in cash.
• Offer Document Date: 10 June 2026.
• Closing Date for Acceptance: 5.30 p.m. (Singapore time) on 8 July 2026.
• Finality of Offer Price: The Offeror does not intend to increase the Offer Price and, under Rule 20.2 of the Singapore Code on Take-overs and Mergers, is not allowed to do so.
• Payment Timeline: Payment to accepting shareholders will be made within 7 business days from the date of receipt of valid acceptance.

Detailed Steps and Key Considerations for Shareholders

• Who Should Use This Form (FAT): Shareholders whose Bromat Holdings Ltd. shares are NOT deposited with the Central Depository (Pte) Limited (CDP) should use this Form of Acceptance and Transfer (“FAT”). If your shares are with CDP, a separate Form of Acceptance and Authorisation (FAA) is required.
• Acceptance Process:
  • Shareholders must state the number of Offer Shares they wish to tender and provide the relevant share certificate numbers in the FAT.
  • If no number is specified or more shares are tendered than are represented by the certificates, the acceptance will be deemed to cover all shares represented by the accompanying certificates.
  • The FAT and original share certificates (or other documents of title) must be submitted to the receiving agent by the deadline.
  • If certificates are lost or unavailable, shareholders should still submit the FAT and forward the missing documents as soon as possible.
• Irrevocability: Once submitted, the acceptance is irrevocable except as provided under the Singapore Code on Take-overs and Mergers or as expressly stated in the Offer Document.
• Warranties and Responsibilities:
  • Shareholders warrant that their shares are fully paid, free from encumbrances, and come with all rights attached as of the Offer Announcement Date (22 May 2026) and thereafter.
  • Any change in address, name, or discrepancies on certificates should be clarified with appropriate documentation.
• Special Situations:
  • Power of Attorney: If shares are held under a Power of Attorney, the FAT must be accompanied by the original or a certified copy of the Power of Attorney.
  • Deceased Shareholders: Probate or Letters of Administration must be provided for deceased shareholders or joint holders.
  • Joint Holders: All joint holders must sign. If one is deceased, the death certificate must be included.
• Risks: All documents are sent and received at the shareholder’s own risk. No acknowledgments will be issued for documents received.
• Governing Law: The offer and all related acceptance procedures are governed by Singapore law.
• Personal Data: Submission of the FAT is consent to the collection, use, and disclosure of personal data for the purpose of processing the acceptance and complying with legal requirements.

Potential Price-Sensitive Information and Implications for Shareholders

• Price Certainty and Premium: The Offer Price of S\$0.031 per share is final and provides certainty for shareholders seeking liquidity. The market price may react to the announcement and finality of this offer.
• Change of Control: If the Offeror and his concert parties acquire a controlling stake, there may be significant changes in the Company’s management, strategy, or listing status, potentially impacting future value for non-accepting shareholders.
• Deadline for Action: Shareholders must act by the deadline (8 July 2026, 5.30 p.m. Singapore time) to secure the offer price. Missing the deadline may result in loss of the opportunity to sell at the offered price.
• Potential Delisting or Compulsory Acquisition: If the Offeror reaches certain thresholds, Bromat Holdings Ltd. could be delisted or remaining minority shares could be compulsorily acquired.
• Overseas Shareholders: The availability of the offer may be restricted by local laws in some jurisdictions. Such shareholders should review the “Overseas Shareholders” section of the Offer Document and seek professional advice.

Action Required for Investors

1. Review your shareholding status (CDP or physical certificates).
2. Read the Offer Document and FAT instructions carefully.
3. Submit your acceptance and required documents before the closing date to participate in the offer.
4. Consult a professional adviser if you are unsure about any aspect of the offer, especially if you are an overseas shareholder.

Disclaimer

This article is for informational purposes only and does not constitute investment advice or a recommendation. Investors should consult their own professional advisers before making any investment or acceptance decisions. The information presented is based on the official offer documents and may be subject to change. Neither the author nor the publisher accepts responsibility for actions taken based on this article.

中文版本：博马特控股有限公司强制性无条件现金要约投资者详细解读

要约核心要点

• 要约人： Frank Liu Tao（刘涛）针对Bromat Holdings Ltd.（博马特控股有限公司）所有已发行的普通股（不包括已由其本人及一致行动人持有的股份）发起强制性无条件现金收购要约。
• 要约价格： 每股新币S\$0.031，现金支付。
• 要约文件日期： 2026年6月10日。
• 最后接受日期： 2026年7月8日下午5:30（新加坡时间）。
• 价格最终性： 要约人不会提高要约价格，且根据新加坡收购与合并守则第20.2条，不得提高价格。
• 付款时间： 有效接受后7个工作日内支付。

股东需注意的细节与流程

• 适用对象： 本表格供未将股份存入中央托管（CDP）账户的股东使用。如股份已在CDP，则需使用另一份表格（FAA）。
• 接受流程：
  • 必须在FAT上填写要约股份数量和对应的股票证书号码。
  • 如未填写数量或填写数量高于提供的证书数量，则默认为全部相关股份接受要约。
  • 须在截止日前将FAT及原始股票证书递交至指定代理。
  • 如证书遗失或暂不可用，应先递交FAT，随后尽快补交证件。
• 不可撤销性： 一经递交，接受要约不可撤销，除非要约文件或新加坡法规另有规定。
• 股东责任：
  • 确保股份全额缴足、无权利负担，并包含2026年5月22日及之后的所有权利。
  • 如地址、姓名有误，需附相关证明材料更正。
• 特殊情况：
  • 如由代理人代表持有，需附代理权原件或公证件。
  • 如股东身故，须提供遗嘱认证或管理书。
  • 联名持有人皆需签署，若有身故，需附死亡证明。
• 风险提示： 文件寄送和接收风险由股东本人承担，代理不出具收据。
• 适用法律： 本要约及相关流程受新加坡法律管辖。
• 个人信息： 递交FAT即同意相关方为办理要约及合规之需收集、使用及披露个人信息。

潜在影响与投资者须知

• 价格最终性： S\$0.031的要约价为最终价，提供流动性机会，若股价低于该价时，具备吸引力。
• 控制权变更： 若要约人获得控股权，公司治理、战略或上市地位可能发生重大变化，影响未接受要约股东利益。
• 截止时间： 必须在2026年7月8日17:30（新加坡时间）前完成递交，否则可能错失要约机会。
• 可能退市或强制收购： 若达到法定门槛，公司可能退市，少数股东股份或被强制收购。
• 海外股东： 部分司法辖区可能有限制，建议详细阅读要约文件“海外股东”部分并咨询专业人士。

投资者操作建议

1. 确认持股状态（CDP账户或持有实物证书）。
2. 仔细阅读要约文件及FAT说明。
3. 在截止日前递交所有文件以参与要约。
4. 如有疑问，尤其是海外投资者，建议咨询专业顾问。

免责声明

本文仅供参考，不构成投资建议或推荐。投资者应根据自身情况咨询专业顾问。本文基于官方要约文件编写，相关信息如有变动，请以公司公告为准。作者及发布方不对据此操作所造成的任何后果承担责任。

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