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Sinway-led consortium's holdings reach 90.19% of CWG International
ELIDOM Investment, jointly owned by Sinway Investment, H&H Wealth and Floriland Co, announced it currently owns or controls some 597.12 million shares in international real estate group CWG International representing 90.19 per cent of the total number of issued shares, and is taking steps to delist the company from the Singapore Exchange's mainboard.
Elidom will despatch a letter to acquire the remaining shares from non-assenting shareholders, pursuant to listing regulations which require the offeror acquire their shares should the offeror own more than 90 per cent or more of the total number of issued shares.
Elidom Investment announced on Dec 28, 2017 that it planned to make a voluntary conditional cash offer for the shares that it does not already own in CWG International at S$0.195 apiece.
RHT Capital, on behalf of Elidom Investment, announced on Jan 22 that Elidom had received valid acceptances of the offer, satisfying the minimum condition of the offer and had therefore become unconditional in all respects.
CWG's shares closed flat on Tuesday at 19.4 Singapore cents apiece.