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PR Newswire
21-01-2020, 10:15 PM
OMG, I forgot to tender the shares. I just ignored the offer as I had bought at 2.65 per share.
Request for Suspension
According to the Loss of Free Float Announcement issued on 27 December 2019 by DBS Bank Ltd. for and on behalf of Yanlord Investment (Singapore) Pte. Ltd. (the "Offeror"), the Offeror has, through acceptances of the UEL Ordinary Share Offer or otherwise, succeeded in holding more than 90% of the total number of UEL Ordinary Shares (excluding any UEL Ordinary Shares held in treasury), thus causing the percentage of the total number of UEL Ordinary Shares (excluding any UEL Ordinary Shares held in treasury) held in public hands to fall below 10%.
Rule 1303(1) of the Listing Rules provides, inter alia, that the SGX-ST may at any time suspend trading of the listed securities of an issuer if the percentage of an issuer's total number of issued shares excluding treasury shares held in public hands falls below 10%.
In a take-over situation, where the offeror succeeds in garnering acceptances exceeding 90% of the issuer's total number of issued shares excluding treasury shares, thus causing the percentage of an issuer's total number of issued shares excluding treasury shares held in public hands to fall below 10%, the SGX-ST will suspend trading of the listed securities of the issuer only at the close of the take-over offer.
As the UEL Ordinary Share Offer and the UEL Preference Share Offer have closed at 5.30 p.m. (Singapore time) on 20 January 2020, United Engineers Limited has accordingly requested the suspension of trading of its listed securities with effect from 9.00 a.m. on 21 January 2020.
Request for Suspension
According to the Loss of Free Float Announcement issued on 27 December 2019 by DBS Bank Ltd. for and on behalf of Yanlord Investment (Singapore) Pte. Ltd. (the "Offeror"), the Offeror has, through acceptances of the UEL Ordinary Share Offer or otherwise, succeeded in holding more than 90% of the total number of UEL Ordinary Shares (excluding any UEL Ordinary Shares held in treasury), thus causing the percentage of the total number of UEL Ordinary Shares (excluding any UEL Ordinary Shares held in treasury) held in public hands to fall below 10%.
Rule 1303(1) of the Listing Rules provides, inter alia, that the SGX-ST may at any time suspend trading of the listed securities of an issuer if the percentage of an issuer's total number of issued shares excluding treasury shares held in public hands falls below 10%.
In a take-over situation, where the offeror succeeds in garnering acceptances exceeding 90% of the issuer's total number of issued shares excluding treasury shares, thus causing the percentage of an issuer's total number of issued shares excluding treasury shares held in public hands to fall below 10%, the SGX-ST will suspend trading of the listed securities of the issuer only at the close of the take-over offer.
As the UEL Ordinary Share Offer and the UEL Preference Share Offer have closed at 5.30 p.m. (Singapore time) on 20 January 2020, United Engineers Limited has accordingly requested the suspension of trading of its listed securities with effect from 9.00 a.m. on 21 January 2020.
Specuvestor: Asset - Business - Structure.
