New Datapulse chairman’s cash offer closes with 76.37% valid acceptances
THE mandatory general offer launched by Datapulse Technology ’s new chairman, Ang Kong Meng, closed on Tuesday (Oct 3).
The number of public acceptances as at 5.30 pm on Tuesday stood at 33.18 per cent.
This brought the total number of shares owned, controlled or agreed to be acquired by the offeror and its concert parties, together with valid acceptances, to 76.37 per cent of the company’s total shares.
Ang also managed to accumulate around 62.41 per cent of total warrants when the offer closed at 5.30 pm.
His offer turned unconditional on Sep 29 after he received enough valid acceptances that allowed him to control more than 50 per cent of the company.
On Aug 11, Ang first launched the mandatory conditional cash offer to acquire all the hotel and hospitality company’s shares at a unit price of S$0.09.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
This came after he bought about 41.9 million Datapulse shares from the company’s former chairman, Aw Cheok Huat, via a married deal.
The move triggered the mandatory conditional cash offer for all the company’s shares, excluding treasury shares and the ones that are already owned, controlled and agreed to be acquired by Ang. He had a 43.19 per cent stake in the company as at the offer announcement.
Ang also made an offer for the warrants at S$0.01 apiece in cash, based on the highest amount paid by the offeror and concert parties in the six months before the offer announcement date.
He plans to maintain the present listing status of the company on the Singapore Exchange and carry on its existing businesses. He also has no intention of introducing any major changes to said businesses, financial adviser SAC Capital said.
The counter closed 3.5 per cent or S$0.003 lower at S$0.084, on Wednesday.
Copyright SPH Media. All rights reserved.
