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Nobel Design receives unconditional cash offer of S$0.51 per share from Grand Slam
MAINBOARD-LISTED Nobel Design Holdings has received a mandatory unconditional cash offer of S$0.51 per offer share from Grand Slam RF18 Investments, a Singapore-incorporated investment holding company.
The offer, announced after market close on Tuesday, comes at a price that represents premiums of 18.6 per cent and 22.6 per cent above the six-month and 12-month volume-weighted average prices respectively.
In the announcement to Singapore Exchange on Tuesday, Nobel Design said that Grand Slam believes that the offer presents an opportunity to Nobel Design shareholders to realise the value of their investment in cash and to "exit a thinly-traded counter at attractive premiums".
Nobel Design had shortly after market close on Tuesday requested for a trading halt. It was trading at about S$0.50 at 4.41pm.