Exit offer for Europtronic Group lapses; to consult SGX on delisting date

THE exit offer for electronic components manufacturer Europtronic Group has lapsed, as at Sept 5, 5.30pm.

The offeror, Project Goodwill Pte Ltd, had received valid acceptances amounting to 320,050,464 offer shares, representing about 33.91 per cent of the total number of issued shares.

This brings the total number of shares owned by Project Goodwill to 470,050,464, representing about 49.81 per cent of the total number of issued shares, just shy of the more than 50 per cent stated in the acceptance condition of the exit offer.

Europtronics Group will consult the Singapore Exchange on the date of delisting of the company.

As at the announcement date of the exit offer, Project Goodwill does not hold any shares. Huang Chuang Shueh-Ou, the vice-chairman of Europtronic Group, is the sole shareholder and sole director of the offeror.