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Offeror for CWG clinches enough acceptances for compulsory acquisition
ELIDOM Investment, the entity making a voluntary cash offer for CWG International at S$0.195 per share, has crossed the 97.54 per cent threshold that allows it to exercise a compulsory acquisition of all the shares of shareholders who have not accepted the offer.
As at 5pm on March 8, the offeror and its concert parties held shares representing about 97.55 per cent of the total issued shares.
Elidom Investment is a takeover vehicle jointly owned by Sinway Investment, H&H Wealth and Floriland Co. It does not plan to keep CWG listed.