While selective capital reduction is not a voluntary offer, but the ultimate goal that our Chairwomen want is to delist (after the capital reduction reduces the free float <10%) and so it needs a "fair and reasonable" offer to do so.
As per IFA, Chairwomen are been generous in their breakup fee
a big contrast to those red/white folks in suits.
Best World’s exit offer ‘fair and reasonable’, says independent financial adviser
Best World made an exit offer by way of a selective capital reduction in April in a move to delist the personal-care products company, raising the price to S$2.56 a share in cash in late May – up from S$2.50 previously. It also said it had no intention to revise the offer price.
According to Evolve Capital Advisory’s computations, the estimated value of each Best World share ranges between S$1.36 and S$2.69. Given that the final exit offer price is within the fourth quartile of this range, the offer is thus deemed “fair”.
https://www.businesstimes.com.sg/compani...al-adviser
As per IFA, Chairwomen are been generous in their breakup fee

Best World’s exit offer ‘fair and reasonable’, says independent financial adviser
Best World made an exit offer by way of a selective capital reduction in April in a move to delist the personal-care products company, raising the price to S$2.56 a share in cash in late May – up from S$2.50 previously. It also said it had no intention to revise the offer price.
According to Evolve Capital Advisory’s computations, the estimated value of each Best World share ranges between S$1.36 and S$2.69. Given that the final exit offer price is within the fourth quartile of this range, the offer is thus deemed “fair”.
https://www.businesstimes.com.sg/compani...al-adviser