OSIM clarifies final offer price of S$1.41

A FINAL offer price of S$1.41 per OSIM share has been announced by Credit Suisse, on behalf of Vision Three Pte Ltd, for the takeover of the Ron Sim-founded lifestyle products group.

The S$1.41 share price is inclusive of the FY2015 final dividend of S$0.02 per share for the year ended Dec 31, 2015.

Vision Three will "not further revise the final offer price", according to the announcement.

Shareholders who have earlier validly accepted the offer and have not withdrawn their acceptances will receive the final offer price (S$1.41) or the final ex-dividend offer price (S$1.39) per offer share, depending on the settlement date in respect of the offer.

If the settlement date falls on or before 5pm on Wednesday in respect of the FY2015 final dividend, then the accepting shareholder shall receive the final offer price of S$1.41 a share.

If the settlement date falls after 5.00 pm on Wednesday, then the accepting shareholder shall receive the final ex-dividend offer price of S$1.39 a share.

On Tuesday, Mr Sim had announced a revised and final offer price of S$1.39 a share. The offer was inclusive of a two Singapore cent final dividend, and was seven Singapore cents higher than his original bid.