Vinda International: Tender offer deadline reached, tender offeror and persons acting in concert hold 98.68% of shares
The tender offer of Vinda International has ended, with the offeror and persons acting in concert holding 98.68% of the shares. The offeror has received valid acceptance of approximately 1.0948 billion shares, accounting for 90.98% of the company's issued share capital. Upon completion of the offer, Vinda International will become a wholly-owned subsidiary of the offeror. In addition, the company has applied for a suspension of share trading and the delisting of its shares
Intelligence Finance APP News, Vinda International (03331) and the offeror Isola Castle Ltd jointly announced that the offer has expired at 4:00 pm on Tuesday, April 2, 2024, with no revision or extension. The offeror has received valid acceptances for approximately 1.0948 billion shares of the offer shares, accounting for approximately 90.98% of the company's issued share capital as of the date of this announcement.
Following the expiration of the offer, after the acceptance shares are taken into account and the transfer of such shares is properly registered at the registration office, the offeror and the persons acting in concert with the offeror collectively own, control, or have instructed approximately 1.187 billion shares, accounting for approximately 98.68% of the company's issued share capital as of the date of this announcement.
As the offeror has received valid acceptances for not less than 90% of the offer shares, the offeror will exercise its compulsory acquisition right to privatize the company by acquiring the offer shares not owned by the offeror or acquired under the offer on the same terms (i.e., at a price of HKD 23.50 per share of the offer shares).
Upon completion of the compulsory acquisition, the company will become a wholly-owned subsidiary of the offeror.
In addition, the company has applied to the Stock Exchange for a trading halt and the suspension of trading in shares will take effect from 9:00 am on Wednesday, April 3, 2024, until the shares are delisted. The last trading day on the Stock Exchange will be Tuesday, April 2, 2024
