Founders taking Spindex private at S$0.85 a share

Singapore

SINGAPORE-LISTED Spindex Industries Limited has received a cash offer from its founding Tan family, who offered to acquire all the shares of the group at 85 Singapore cents apiece under a scheme of arrangement.

The offer price represents a premium of 21.4 per cent over the last traded price on Wednesday and 23.4 per cent over the volume weighted average price for the three-month period up to and including Feb 8. Trading of the shares was halted on Thursday and will be lifted on Friday.