Offer for Fragrance Group turns unconditional

THE offer for Fragrance Group has turned unconditional as the offeror JK Global Treasures and parties acting in concert have secured over 50 per cent of the total issued shares, said the offeror on Monday.

After garnering about 91.5 per cent of the total shares with parties acting in concert as at 6pm on July 11, the offeror announced in a statement that the acquisition is now unconditional.

The offer document will be sent between 14 and 21 days from when the offer was announced, after which shareholders of Fragrance can accept the offer.

The property developer earlier announced on Friday that JK Global Treasures intends to make a voluntary conditional cash offer for all issued and paid-up ordinary shares of the group at 13.8 cents per share.

The trading halt on the counter was also lifted during the midday break in a separate announcement. As at 1.52pm, it was trading up 17 per cent or two Singapore cents at 13.8 cents.