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shadow Veteran	12-Jan-2017 11:18        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	indeed you may be right, many people are totally disappointed with SGX ! sriramanv      ( Date: 12-Jan-2017 11:09) Posted: Only sometimes disappointed with SGX ? No wonder our market is so lousy. shadow      ( Date: 12-Jan-2017 10:54) Posted: sometimes very disapponted with SGX, they are just blind folded or keep one eye shut ! where are the interest of protecting all small shareholders! Like Trump said ' getting away with murder' !! Small shareholders are silently " murdered" and  these big boys   are getting away from it... where got justice !
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sriramanv Master	12-Jan-2017 11:09        sriramanv About Contact  Quote this Post!
x 0   x 0  Alert Admin	Only sometimes disappointed with SGX ? No wonder our market is so lousy. shadow      ( Date: 12-Jan-2017 10:54) Posted: sometimes very disapponted with SGX, they are just blind folded or keep one eye shut ! where are the interest of protecting all small shareholders! Like Trump said ' getting away with murder' !! Small shareholders are silently " murdered" and  these big boys   are getting away from it... where got justice ! TeoMark      ( Date: 12-Jan-2017 10:44) Posted: Such unethical practices should be made public.
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shadow Veteran	12-Jan-2017 10:54        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	sometimes very disapponted with SGX, they are just blind folded or keep one eye shut ! where are the interest of protecting all small shareholders! Like Trump said ' getting away with murder' !! Small shareholders are silently " murdered" and  these big boys   are getting away from it... where got justice ! TeoMark      ( Date: 12-Jan-2017 10:44) Posted: Such unethical practices should be made public. shadow      ( Date: 12-Jan-2017 10:34) Posted: Think they are trying to confuse/panic to  all the small shareholders to surrender to them so that within the next expiring date 2Feb they hope to get 90% by then to compulsory acquire all the remaining shares. If not, likely under clause 4.1 , chu-pattern again delay extension to another don' t know what date again & again, keep  the shares suspended  from trading. And to the small players who eventually cannot take it will submit to them. Dirty tricks!
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TeoMark Veteran	12-Jan-2017 10:44        TeoMark About Contact  Quote this Post!
x 0   x 0  Alert Admin	Such unethical practices should be made public. shadow      ( Date: 12-Jan-2017 10:34) Posted: Think they are trying to confuse/panic to  all the small shareholders to surrender to them so that within the next expiring date 2Feb they hope to get 90% by then to compulsory acquire all the remaining shares. If not, likely under clause 4.1 , chu-pattern again delay extension to another don' t know what date again & again, keep  the shares suspended  from trading. And to the small players who eventually cannot take it will submit to them. Dirty tricks!   investshare      ( Date: 12-Jan-2017 10:25) Posted: Read 3.1 and 3.2. They confirm taken into account
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investshare Supreme	12-Jan-2017 10:43        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	because of the sequence of events, it does seem unusual and confusing now.. otherwise, the latest offer is more straightfoward than before. they offer to buy at 0.25 unconditionally. shadow      ( Date: 12-Jan-2017 10:34) Posted: Think they are trying to confuse/panic to  all the small shareholders to surrender to them so that within the next expiring date 2Feb they hope to get 90% by then to compulsory acquire all the remaining shares. If not, likely under clause 4.1 , chu-pattern again delay extension to another don' t know what date again & again, keep  the shares suspended  from trading. And to the small players who eventually cannot take it will submit to them. Dirty tricks!   investshare      ( Date: 12-Jan-2017 10:25) Posted: Read 3.1 and 3.2. They confirm taken into account
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shadow Veteran	12-Jan-2017 10:34        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think they are trying to confuse/panic to  all the small shareholders to surrender to them so that within the next expiring date 2Feb they hope to get 90% by then to compulsory acquire all the remaining shares. If not, likely under clause 4.1 , chu-pattern again delay extension to another don' t know what date again & again, keep  the shares suspended  from trading. And to the small players who eventually cannot take it will submit to them. Dirty tricks!   investshare      ( Date: 12-Jan-2017 10:25) Posted: Read 3.1 and 3.2. They confirm taken into account. chongpin      ( Date: 12-Jan-2017 10:22) Posted: I think the 50% acceptance does not include the 55.6% that the offeror have already owned.
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investshare Supreme	12-Jan-2017 10:25        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Read 3.1 and 3.2. They confirm taken into account. chongpin      ( Date: 12-Jan-2017 10:22) Posted: I think the 50% acceptance does not include the 55.6% that the offeror have already owned. shadow      ( Date: 12-Jan-2017 10:08) Posted: what is the interpretation , any expert? From my understanding is that they are opening the Offer extension till 2 Feb to accept the Offer again. The also allow you to withdraw the Offer Acceptance previously submitted within 8 days Thereafter depending on the " final" acceptance level , if above 90% compulsory acquisition.. If no, they reserve the right to reduce the Acceptance condition to a lower level which is more than 50%. In this case they already satisfy the condition which they already have more than 55.6% ! If assuming no one withdrawing as at 29Dec annc, then the acceptance should be 16.3% + 55.6% = they have 71.9% confirmed on hand. How to reduce from its current acceptance holding 71.9% to just above 50%  which means they have to dispose 20%  off to just above  50%+ holding Doesn' t sound right mind to me after so much work to acquire it they decided to hold just 50% at the end. Simply what they mean only they can hold anything above 50% up to 89% if they cannot attain 90% to compulsory acquire  all the remaining shares. Are they trying to cause confusion or panic to small shareholders to throw in towels to them ? What i dislike is that Clause 4.1.. Offer .. such date(s) may be annouced from time to time.... Is SGX reading this, can the rules allow them to keep extending the date  to no END ! Ridiculous ! Is this our world class exchange allowing all the listed co to take advantage of smaller investors interest! SIAS can please  look into this!
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chongpin Senior	12-Jan-2017 10:22        chongpin About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	I think the 50% acceptance does not include the 55.6% that the offeror have already owned. shadow      ( Date: 12-Jan-2017 10:08) Posted: what is the interpretation , any expert? From my understanding is that they are opening the Offer extension till 2 Feb to accept the Offer again. The also allow you to withdraw the Offer Acceptance previously submitted within 8 days Thereafter depending on the " final" acceptance level , if above 90% compulsory acquisition.. If no, they reserve the right to reduce the Acceptance condition to a lower level which is more than 50%. In this case they already satisfy the condition which they already have more than 55.6% ! If assuming no one withdrawing as at 29Dec annc, then the acceptance should be 16.3% + 55.6% = they have 71.9% confirmed on hand. How to reduce from its current acceptance holding 71.9% to just above 50%  which means they have to dispose 20%  off to just above  50%+ holding Doesn' t sound right mind to me after so much work to acquire it they decided to hold just 50% at the end. Simply what they mean only they can hold anything above 50% up to 89% if they cannot attain 90% to compulsory acquire  all the remaining shares. Are they trying to cause confusion or panic to small shareholders to throw in towels to them ? What i dislike is that Clause 4.1.. Offer .. such date(s) may be annouced from time to time.... Is SGX reading this, can the rules allow them to keep extending the date  to no END ! Ridiculous ! Is this our world class exchange allowing all the listed co to take advantage of smaller investors interest! SIAS can please  look into this!
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shadow Veteran	12-Jan-2017 10:08        shadow About Contact  Quote this Post!
x 0   x 0  Alert Admin	what is the interpretation , any expert? From my understanding is that they are opening the Offer extension till 2 Feb to accept the Offer again. The also allow you to withdraw the Offer Acceptance previously submitted within 8 days Thereafter depending on the " final" acceptance level , if above 90% compulsory acquisition.. If no, they reserve the right to reduce the Acceptance condition to a lower level which is more than 50%. In this case they already satisfy the condition which they already have more than 55.6% ! If assuming no one withdrawing as at 29Dec annc, then the acceptance should be 16.3% + 55.6% = they have 71.9% confirmed on hand. How to reduce from its current acceptance holding 71.9% to just above 50%  which means they have to dispose 20%  off to just above  50%+ holding Doesn' t sound right mind to me after so much work to acquire it they decided to hold just 50% at the end. Simply what they mean only they can hold anything above 50% up to 89% if they cannot attain 90% to compulsory acquire  all the remaining shares. Are they trying to cause confusion or panic to small shareholders to throw in towels to them ? What i dislike is that Clause 4.1.. Offer .. such date(s) may be annouced from time to time.... Is SGX reading this, can the rules allow them to keep extending the date  to no END ! Ridiculous ! Is this our world class exchange allowing all the listed co to take advantage of smaller investors interest! SIAS can please  look into this!
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ZeroByDivide Member	12-Jan-2017 10:03        ZeroByDivide About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi sorry a bit uncertain here! But currently with their assumed 70% from last year, what is going to happen? I thought the latest announcement sent was a confirmation of privatisation? Or did I misunderstand rabbitfoot      ( Date: 12-Jan-2017 09:57) Posted: in order to delist, they need more than 90%, if that happens then those who didnt sell to them will   be given as the first initial offer  investshare      ( Date: 12-Jan-2017 09:50) Posted: But if they delist it, what for shareholders still hold on the shares
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rabbitfoot Master	12-Jan-2017 09:57        rabbitfoot About Contact  Quote this Post!
x 0   x 0  Alert Admin	in order to delist, they need more than 90%, if that happens then those who didnt sell to them will   be given as the first initial offer  investshare      ( Date: 12-Jan-2017 09:50) Posted: But if they delist it, what for shareholders still hold on the shares? rabbitfoot      ( Date: 12-Jan-2017 09:47) Posted: For Compulsary Acquisition, more than 90% Still Necessary, read paragraph under Next Steps in announcement
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investshare Supreme	12-Jan-2017 09:50        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	But if they delist it, what for shareholders still hold on the shares? rabbitfoot      ( Date: 12-Jan-2017 09:47) Posted: For Compulsary Acquisition, more than 90% Still Necessary, read paragraph under Next Steps in announcement investshare      ( Date: 12-Jan-2017 09:33) Posted: The price should drop to 3-5% below offer price right
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TeoMark Veteran	12-Jan-2017 09:49        TeoMark About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why in the first place set at 90%? Really bully investors in Singapore. Super smelly. ZeroByDivide      ( Date: 12-Jan-2017 09:29) Posted: Doesnt this mean they already satisfy the privatisation since they already got 50% themselves? chongpin      ( Date: 12-Jan-2017 09:06) Posted: REDUCTION OF ACCEPTANCE CONDITION AND OFFER DECLARED UNCONDITIONAL ANNOUNCEMENT 2. REDUCTION OF ACCEPTANCE CONDITION 2.1 The Offer Document states that the Offer is subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 90 per cent. of the total number of Shares as at the close of the Offer (the &ldquo Acceptance Condition&rdquo ). 2.2 As stated in the Offer Document, the Offeror reserves the right to reduce the Acceptance Condition to a lower level which is more than 50 per cent. of the total number of Shares. 2.3 The Offeror has obtained the consent of the Securities Industry Council to reduce the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, subject to: (i) the revised Offer remaining open for another 14 days following the posting of the written notification of such revision and (ii) the Shareholders who have accepted the initial Offer being permitted to withdraw their acceptance within eight days of the posting of the written notification of such revision. 2.4 Accordingly, Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Offeror is reducing the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, and the Offer will therefore be subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 50 per cent. of the total number of Shares.    3. OFFER DECLARED UNCONDITIONAL 3.1 As at the date of this Announcement, the Offeror holds 656,471,268 Shares (representing approximately 55.63 per cent. of the total number of Shares). 3.2 The reduced Acceptance Condition has therefore been satisfied, and as the Offer is not subject to any other conditions, the Offer is hereby declared unconditional in all respects.    4. EXTENSION OF CLOSING DATE 4.1 In accordance with Rule 22.6 of the Code, after an offer has become or is declared unconditional as to acceptances, the offer must remain open for acceptance for not less than 14 days after the date on which the offer would otherwise have closed. 3 4.2 Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Closing Date for the Offer is extended from 5.30 p.m. (Singapore time) on 12 January 2017 to 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror. 4.3 Accordingly, the Offer shall close at 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.   5. NEXT STEPS A written notification in respect of the reduction of the Acceptance Condition and the extension of the Closing Date will be despatched to all Shareholders shortly.    6. COMPULSORY ACQUISITION 6.1 Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer or acquires Offer Shares during the Offer period otherwise than through valid acceptances of the Offer in respect of not less than 90 per cent. of the total number of Shares (other than those already held by the Offeror, its related corporations and their respective nominees as at the Despatch Date), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the &ldquo Dissenting Shareholders&rdquo ) on the same terms as those offered under the Offer. As stated in the Offer Document, in the event that the Offeror becomes entitled to exercise its right under Section 215(1) of the Companies Act to compulsorily acquire all the Offer Shares of the Dissenting Shareholders, the Offeror intends to exercise its right of compulsory acquisition. In such event, the Company will become a wholly-owned subsidiary of the Offeror pursuant to such compulsory acquisition and the Offeror will then proceed to delist the Company from the SGX-ST. 6.2 In addition, pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporation and their respective nominees, comprise 90 per cent. or more of the total number of Shares, the Dissenting Shareholders have a right to require the Offeror to acquire their Shares at the Offer Price. Dissenting Shareholders who wish to exercise such a right are advised to seek their own independent legal advice.
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rabbitfoot Master	12-Jan-2017 09:47        rabbitfoot About Contact  Quote this Post!
x 0   x 0  Alert Admin	For Compulsary Acquisition, more than 90% Still Necessary, read paragraph under Next Steps in announcement investshare      ( Date: 12-Jan-2017 09:33) Posted: The price should drop to 3-5% below offer price right? investshare      ( Date: 12-Jan-2017 09:31) Posted: Can like that one
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investshare Supreme	12-Jan-2017 09:33        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	The price should drop to 3-5% below offer price right? investshare      ( Date: 12-Jan-2017 09:31) Posted: Can like that one? animus      ( Date: 12-Jan-2017 08:58) Posted: another 14 days???
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investshare Supreme	12-Jan-2017 09:31        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can like that one? animus      ( Date: 12-Jan-2017 08:58) Posted: another 14 days??? ZeroByDivide      ( Date: 11-Jan-2017 19:18) Posted: Sri good show at noble!
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james87 Master	12-Jan-2017 09:30        james87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Like that they playing cheat? Can change to 50% and allow only 8 days for those accepted to withdraw??? ZeroByDivide      ( Date: 12-Jan-2017 09:29) Posted: Doesnt this mean they already satisfy the privatisation since they already got 50% themselves? chongpin      ( Date: 12-Jan-2017 09:06) Posted: REDUCTION OF ACCEPTANCE CONDITION AND OFFER DECLARED UNCONDITIONAL ANNOUNCEMENT 2. REDUCTION OF ACCEPTANCE CONDITION 2.1 The Offer Document states that the Offer is subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 90 per cent. of the total number of Shares as at the close of the Offer (the &ldquo Acceptance Condition&rdquo ). 2.2 As stated in the Offer Document, the Offeror reserves the right to reduce the Acceptance Condition to a lower level which is more than 50 per cent. of the total number of Shares. 2.3 The Offeror has obtained the consent of the Securities Industry Council to reduce the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, subject to: (i) the revised Offer remaining open for another 14 days following the posting of the written notification of such revision and (ii) the Shareholders who have accepted the initial Offer being permitted to withdraw their acceptance within eight days of the posting of the written notification of such revision. 2.4 Accordingly, Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Offeror is reducing the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, and the Offer will therefore be subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 50 per cent. of the total number of Shares.    3. OFFER DECLARED UNCONDITIONAL 3.1 As at the date of this Announcement, the Offeror holds 656,471,268 Shares (representing approximately 55.63 per cent. of the total number of Shares). 3.2 The reduced Acceptance Condition has therefore been satisfied, and as the Offer is not subject to any other conditions, the Offer is hereby declared unconditional in all respects.    4. EXTENSION OF CLOSING DATE 4.1 In accordance with Rule 22.6 of the Code, after an offer has become or is declared unconditional as to acceptances, the offer must remain open for acceptance for not less than 14 days after the date on which the offer would otherwise have closed. 3 4.2 Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Closing Date for the Offer is extended from 5.30 p.m. (Singapore time) on 12 January 2017 to 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror. 4.3 Accordingly, the Offer shall close at 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.   5. NEXT STEPS A written notification in respect of the reduction of the Acceptance Condition and the extension of the Closing Date will be despatched to all Shareholders shortly.    6. COMPULSORY ACQUISITION 6.1 Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer or acquires Offer Shares during the Offer period otherwise than through valid acceptances of the Offer in respect of not less than 90 per cent. of the total number of Shares (other than those already held by the Offeror, its related corporations and their respective nominees as at the Despatch Date), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the &ldquo Dissenting Shareholders&rdquo ) on the same terms as those offered under the Offer. As stated in the Offer Document, in the event that the Offeror becomes entitled to exercise its right under Section 215(1) of the Companies Act to compulsorily acquire all the Offer Shares of the Dissenting Shareholders, the Offeror intends to exercise its right of compulsory acquisition. In such event, the Company will become a wholly-owned subsidiary of the Offeror pursuant to such compulsory acquisition and the Offeror will then proceed to delist the Company from the SGX-ST. 6.2 In addition, pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporation and their respective nominees, comprise 90 per cent. or more of the total number of Shares, the Dissenting Shareholders have a right to require the Offeror to acquire their Shares at the Offer Price. Dissenting Shareholders who wish to exercise such a right are advised to seek their own independent legal advice.
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ZeroByDivide Member	12-Jan-2017 09:29        ZeroByDivide About Contact  Quote this Post!
x 0   x 0  Alert Admin	Doesnt this mean they already satisfy the privatisation since they already got 50% themselves? chongpin      ( Date: 12-Jan-2017 09:06) Posted: REDUCTION OF ACCEPTANCE CONDITION AND OFFER DECLARED UNCONDITIONAL ANNOUNCEMENT 2. REDUCTION OF ACCEPTANCE CONDITION 2.1 The Offer Document states that the Offer is subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 90 per cent. of the total number of Shares as at the close of the Offer (the &ldquo Acceptance Condition&rdquo ). 2.2 As stated in the Offer Document, the Offeror reserves the right to reduce the Acceptance Condition to a lower level which is more than 50 per cent. of the total number of Shares. 2.3 The Offeror has obtained the consent of the Securities Industry Council to reduce the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, subject to: (i) the revised Offer remaining open for another 14 days following the posting of the written notification of such revision and (ii) the Shareholders who have accepted the initial Offer being permitted to withdraw their acceptance within eight days of the posting of the written notification of such revision. 2.4 Accordingly, Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Offeror is reducing the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, and the Offer will therefore be subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 50 per cent. of the total number of Shares.    3. OFFER DECLARED UNCONDITIONAL 3.1 As at the date of this Announcement, the Offeror holds 656,471,268 Shares (representing approximately 55.63 per cent. of the total number of Shares). 3.2 The reduced Acceptance Condition has therefore been satisfied, and as the Offer is not subject to any other conditions, the Offer is hereby declared unconditional in all respects.    4. EXTENSION OF CLOSING DATE 4.1 In accordance with Rule 22.6 of the Code, after an offer has become or is declared unconditional as to acceptances, the offer must remain open for acceptance for not less than 14 days after the date on which the offer would otherwise have closed. 3 4.2 Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Closing Date for the Offer is extended from 5.30 p.m. (Singapore time) on 12 January 2017 to 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror. 4.3 Accordingly, the Offer shall close at 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.   5. NEXT STEPS A written notification in respect of the reduction of the Acceptance Condition and the extension of the Closing Date will be despatched to all Shareholders shortly.    6. COMPULSORY ACQUISITION 6.1 Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer or acquires Offer Shares during the Offer period otherwise than through valid acceptances of the Offer in respect of not less than 90 per cent. of the total number of Shares (other than those already held by the Offeror, its related corporations and their respective nominees as at the Despatch Date), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the &ldquo Dissenting Shareholders&rdquo ) on the same terms as those offered under the Offer. As stated in the Offer Document, in the event that the Offeror becomes entitled to exercise its right under Section 215(1) of the Companies Act to compulsorily acquire all the Offer Shares of the Dissenting Shareholders, the Offeror intends to exercise its right of compulsory acquisition. In such event, the Company will become a wholly-owned subsidiary of the Offeror pursuant to such compulsory acquisition and the Offeror will then proceed to delist the Company from the SGX-ST. 6.2 In addition, pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporation and their respective nominees, comprise 90 per cent. or more of the total number of Shares, the Dissenting Shareholders have a right to require the Offeror to acquire their Shares at the Offer Price. Dissenting Shareholders who wish to exercise such a right are advised to seek their own independent legal advice.
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chongpin Senior	12-Jan-2017 09:06        chongpin About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	REDUCTION OF ACCEPTANCE CONDITION AND OFFER DECLARED UNCONDITIONAL ANNOUNCEMENT 2. REDUCTION OF ACCEPTANCE CONDITION 2.1 The Offer Document states that the Offer is subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 90 per cent. of the total number of Shares as at the close of the Offer (the &ldquo Acceptance Condition&rdquo ). 2.2 As stated in the Offer Document, the Offeror reserves the right to reduce the Acceptance Condition to a lower level which is more than 50 per cent. of the total number of Shares. 2.3 The Offeror has obtained the consent of the Securities Industry Council to reduce the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, subject to: (i) the revised Offer remaining open for another 14 days following the posting of the written notification of such revision and (ii) the Shareholders who have accepted the initial Offer being permitted to withdraw their acceptance within eight days of the posting of the written notification of such revision. 2.4 Accordingly, Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Offeror is reducing the Acceptance Condition to a level of more than 50 per cent. of the total number of Shares, and the Offer will therefore be subject to the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which will result in the Offeror and parties acting in concert with the Offeror holding more than 50 per cent. of the total number of Shares.    3. OFFER DECLARED UNCONDITIONAL 3.1 As at the date of this Announcement, the Offeror holds 656,471,268 Shares (representing approximately 55.63 per cent. of the total number of Shares). 3.2 The reduced Acceptance Condition has therefore been satisfied, and as the Offer is not subject to any other conditions, the Offer is hereby declared unconditional in all respects.    4. EXTENSION OF CLOSING DATE 4.1 In accordance with Rule 22.6 of the Code, after an offer has become or is declared unconditional as to acceptances, the offer must remain open for acceptance for not less than 14 days after the date on which the offer would otherwise have closed. 3 4.2 Credit Suisse wishes to announce, for and on behalf of the Offeror, that the Closing Date for the Offer is extended from 5.30 p.m. (Singapore time) on 12 January 2017 to 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror. 4.3 Accordingly, the Offer shall close at 5.30 p.m. (Singapore time) on 2 February 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.   5. NEXT STEPS A written notification in respect of the reduction of the Acceptance Condition and the extension of the Closing Date will be despatched to all Shareholders shortly.    6. COMPULSORY ACQUISITION 6.1 Pursuant to Section 215(1) of the Companies Act, if the Offeror receives valid acceptances pursuant to the Offer or acquires Offer Shares during the Offer period otherwise than through valid acceptances of the Offer in respect of not less than 90 per cent. of the total number of Shares (other than those already held by the Offeror, its related corporations and their respective nominees as at the Despatch Date), the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer (the &ldquo Dissenting Shareholders&rdquo ) on the same terms as those offered under the Offer. As stated in the Offer Document, in the event that the Offeror becomes entitled to exercise its right under Section 215(1) of the Companies Act to compulsorily acquire all the Offer Shares of the Dissenting Shareholders, the Offeror intends to exercise its right of compulsory acquisition. In such event, the Company will become a wholly-owned subsidiary of the Offeror pursuant to such compulsory acquisition and the Offeror will then proceed to delist the Company from the SGX-ST. 6.2 In addition, pursuant to Section 215(3) of the Companies Act, if the Offeror acquires such number of Shares which, together with the Shares held by it, its related corporation and their respective nominees, comprise 90 per cent. or more of the total number of Shares, the Dissenting Shareholders have a right to require the Offeror to acquire their Shares at the Offer Price. Dissenting Shareholders who wish to exercise such a right are advised to seek their own independent legal advice.
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animus Member	12-Jan-2017 08:58        animus About Contact  Quote this Post!
x 0   x 0  Alert Admin	another 14 days??? ZeroByDivide      ( Date: 11-Jan-2017 19:18) Posted: Sri good show at noble!
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