Universal EC Investments intends to compulsorily acquire UE E&C

THE takeover offer for UE E&C closed at 5.30pm on Wednesday, DMG & Partners Securities announced on behalf of the offeror, Universal EC Investments.

Accordingly, the offer is no longer open for acceptance and any acceptances received thereafter will be rejected.

As at 5.30pm on Wednesday, the total amount of shares owned, controlled or agreed to be acquired by the offeror and parties acting in concert with it, and valid acceptances of the offer, amount to an aggregate of 260,718,007 shares, representing approximately 96.56 per cent of the voting rights attributable to the issued share capital of the company.

Accordingly, Universal EC Investments intends to compulsorily acquire the remaining shares at the offer price for each remaining share of UE E&C.