Hotel Properties

[InvestArk]

Sorry buddies,

I am Kinda new to such M&A offers esp when it come to the terminologies , a few questions :

1) What does it mean when the offer turns unconditional?
2) What will happen to the Shareholders who did not take up the offer after it becomes unconditional?
3) Will the offerer continue to purchase share despite meeting their condition (in this case a 50% holding for the concerted party).

Hope some buddies could shed some light on these.

Thank you very much!

Answers to Qn.

1) When it turns unconditional, the Offeror will have to take your shares when you tender to them. Unlike conditional offer, they can return you if the condition is not met.

2) Nothing will happen. If the Offeror can get 90%, then can compulsory acquire your shares. Other than that, you can keep your shares. However, the shares may be delisted from SGX if the share don't meet the free float requirement.

3) Yes. The Offeror can buy the shares during the offer. After the offer, the Offeror cannot buy any shares higher than the Offer price for 6 months.


Sent from my iPhone using Tapatalk

Thank you for the explanation !