Trading of GK Goh’s shares suspended after cash offer closes

THE voluntary unconditional cash offer for all the issued and paid-up shares in mainboard-listed investment company GK Goh closed on Tuesday (Apr 25), with the offeror and its concert parties holding 95.03 per cent of the total issued share capital.

Trading of the company’s shares on the Singapore Exchange (SGX) will be suspended from Tuesday, GK Goh said in a bourse filing on the same day.

A compulsory acquisition exercise to acquire the remaining shares will be held on or after May 22 this year, the company added.

Following the compulsory acquisition, GK Goh will be delisted from SGX’s mainboard, with details to be announced on a later date.

The offeror, Verveine, is a special purpose vehicle owned by GK Goh’s founder and executive chairman Goh Geok Khim and his son, managing director Goh Yew Lin.

In February, they launched a voluntary cash offer to take GK Goh private at S$1.26 per share in cash, which valued the company at S$396 million.

SEE ALSO

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Shares of GK Goh closed 1.6 per cent or S$0.02 lower to S$1.24 on Tuesday, prior to the announcement.