GuocoLeisure Holdings' offer for GL closes with 95.62% valid acceptances

GUOCO Group unit GuocoLeisure Holdings' offer for hotel operator GL has closed with valid acceptances representing 95.62 per cent of the total number of GL shares, GL said in a filing on Thursday night.

The voluntary unconditional cash offer, with a final offer price of S$0.80 per share, closed at 5.30pm on April 1.

GuocoLeisure has said that, upon receiving acceptances of at least 90 per cent, it intends to exercise its right of compulsory acquisition to acquire all remaining GL shares after the close of the offer.

It will then delist GL, with the delisting date to be announced in due course.

As GL has lost its free float, trading in its shares will be suspended. GL shares closed unchanged at 77.5 Singapore cents on Thursday.