Gazelle Ventures’ cash offer for No Signboard closes with 0.5022% valid acceptances
The offer price was S$0.0021 per share, representing a 97.5% discount over the last transacted price preceding the offer announcement
THE mandatory unconditional cash offer launched by Gazelle Ventures to acquire all the issued and paid-up ordinary shares of No Signboard Holdings closed on Thursday (May 16).
The number of public acceptances stood at 0.5022 per cent or 1.55 million shares. Gazelle Ventures is the investor for the Catalist-listed restaurant operator.
On Apr 19, Gazelle Ventures announced its intention to acquire all the issued and paid-up ordinary shares of No Signboard, excluding those already owned by the investor and its allies.
The offer price of S$0.0021 per share was at a 97.5 per cent discount over the last transacted price preceding the offer announcement on Mar 28.
“The offeror concert party group’s intention is for the company to continue carrying on its business in the food and beverage industry, and to maintain its listing status on the SGX-ST,” said the offer document released by Gazelle Ventures in April.
Shares of No Signboard closed at S$0.037 on Thursday, after rising 42.3 per cent or S$0.011.
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