New Datapulse chairman’s cash offer turns unconditional with 60.3% shares acquired
Mia Pei
ANG Kong Meng, Datapulse Technology ’s chairman since a board reconstitution in July, has amassed more than half the total number of shares and warrants in the company, turning his cash offer unconditional in all respects.
As at 6 pm on Thursday (Sep 28), he had received valid acceptances of about 41.1 million shares, or 17.1 per cent of the total number of shares, as well as 4.4 million warrants, representing about 5 per cent of the total number of warrants.
This brought the total number of shares owned, controlled, or agreed to be acquired by him and his concert parties to around 144.6 million, representing 60.3 per cent of the total number of issued shares, and 51.9 per cent of the maximum potential share capital in the company.
The aggregate number of warrants reached around 54.4 million, or 61.1 per cent of the total number of warrants issued.
Datapulse also noted in its bourse filing on Friday that Ang will not extend the closing date on Oct 3. Acceptances received after 5.30 pm that day will be rejected.
On Aug 11, he had launched a mandatory conditional cash offer to acquire all the hotel and hospitality company’s shares at a unit price of S$0.09, after acquiring some 41.9 million Datapulse shares from the company’s former chairman, Aw Cheok Huat, through a married deal.
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As at the offer announcement, Ang had a 43.2 per cent stake in the company.
He also made an offer for the warrants at S$0.01 apiece in cash, which was based on the highest amount paid by the offeror and concert parties in the six months before the offer announcement date.
The counter closed S$0.001 or 1.2 per cent higher at S$0.084 on Thursday.
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