Ban Leong Technologies Set for Full Takeover and Delisting: What Retail Investors Must Know About the Compulsory Acquisition by Epicsoft Asia
Key Highlights of the Compulsory Acquisition Announcement
- Epicsoft Asia Pte. Ltd. has exercised its right to compulsorily acquire all remaining shares of Ban Leong Technologies Limited that it does not already own.
- Compulsory acquisition price: S\$0.6029 in cash per share.
- Following this move, Ban Leong Technologies will become a wholly-owned subsidiary of Epicsoft Asia and will be delisted from the Mainboard of SGX-ST.
- The process and payment details for dissenting shareholders are clearly outlined, whether shares are held via CDP or in scrip form.
In-Depth Details: What’s Happening and Why It’s Important
Epicsoft Asia Pte. Ltd. (“Epicsoft”) has officially initiated the final step in its acquisition of Ban Leong Technologies Limited (“Ban Leong”). After a series of announcements and the closure of its voluntary unconditional cash offer, Epicsoft now moves to compulsorily acquire all shares from minority shareholders who have not yet accepted the offer. This action is in accordance with Section 215(1) of the Singapore Companies Act, following Epicsoft’s attainment of the necessary ownership threshold.
Key Timeline:
- Offer announced: 30 April 2025
- Offer declared unconditional: 27 May 2025
- Offer closed: 2 July 2025
- Compulsory acquisition and delisting announced: 18 August 2025
Compulsory Acquisition Price: Shareholders who have not tendered their shares (“Dissenting Shareholders”) will receive S\$0.6029 in cash for each share they hold. This payout is the same as the offer price previously extended to all shareholders.
How Will Shareholders Be Paid?
- Shares held via CDP: If shareholders use CDP’s Direct Crediting Service, funds will be credited directly to their designated bank accounts. If not, the money will be credited to their Cash Ledger with CDP.
- Shares in scrip form: The Share Registrar will mail a Singapore Dollar crossed cheque to the address on record, at the shareholder’s own risk.
What Does This Mean for Shareholders and the Share Price?
- Delisting Risk: Once the compulsory acquisition is completed, Ban Leong Technologies will be delisted from the SGX Mainboard. The company will no longer be publicly traded, and minority shareholders will be forced to sell at S\$0.6029 per share.
- Last Chance to Act: If you have not yet accepted the offer and still hold shares, you will be paid the same S\$0.6029 per share, but will lose all exposure to future upside (or downside) in the now-private company.
- Finality: After delisting, retail investors will have no further recourse to participate in or benefit from Ban Leong Technologies’ future performance as a listed entity.
- Potential Price Sensitivity: This is a price-sensitive event as it marks the end of Ban Leong as a listed company. Any holding or trading in the shares henceforth will be subject to the compulsory acquisition and delisting process, setting a hard ceiling at S\$0.6029 per share for all remaining outstanding shares.
Forward-Looking Statements and Investor Caution
Epicsoft Asia has noted that all statements apart from historical facts may be forward-looking, involving known and unknown risks. Shareholders are cautioned not to place undue reliance on forward-looking statements, and that Epicsoft does not undertake to update such statements except as required by law.
Conclusion: Immediate Action Required for Shareholders
Retail investors holding Ban Leong Technologies shares should be aware that the compulsory acquisition is now underway. All remaining shares will be acquired at S\$0.6029 in cash, and the company will be delisted from the SGX Mainboard. This is a final and price-sensitive event marking the end of Ban Leong Technologies as a publicly traded company.
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 conduct their own due diligence or consult a licensed financial adviser before making investment decisions. The author and publisher accept no liability for any losses arising from reliance on this information.
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