28-08-2023, 04:00 PM
(28-08-2023, 03:36 PM)header Wrote: Tks for sharing. But I really dont understand why Wong FF cannot sell to BSL. Dont understand the part of pre-conditional offer. Perhaps someone can explain?
Hi header,
I guess what they meant is that the pre-condition for the offer if FF Wong wants to sell his stake in BP to BSL is that an EGM needs to be held for BSL shareholders, which FF Wong could not vote since its an IPT.
Since FF Wong could not vote on the deal, they might not be confident enough to get the approval from BSL shareholders. Furthermore, the timeline might be longer as it involves holding an EGM to get BSL shareholders approval as a pre-condition before they can launch the offer for BP.