23-03-2023, 11:24 PM
(23-03-2023, 09:43 AM)ghchua Wrote:(23-03-2023, 12:51 AM)Shiyi Wrote: The offeror has stated that it cannot embark on compulsory acquisition as it is mandatory unconditional general offer.
Is there such a rule?
Hi Shiyi,
The offeror didn't say that. The offeror said it is unable to avail itself to the rights of compulsory acquisition under Section 215(1) of the Companies Act following the completion of the Offer.
Please take note that compulsory acquisition under the Singapore Companies Act is a right and not an obligation.
Thank you for the clarification.
Is there any obligation of the offeror if it gets more than 90% shares from independent shareholders?