Wing Tai Holdings

[propertyinvestor]

they are lucky that most shareholders did not vote instead of vote against, otherwise, it would be tough to met the first condition. only around 30% of share votes count.

the 2nd condition is barely met. 16.9% only. the shareholders have spoken.

the offer will be extended, so more people can vote against and withdraw their tender?

All conditions are met lah.

As stated in the Offer Announcement, the Partial Offer is subject to the following conditions:-
a. the Offeror having received, by 5.30 p.m. (Singapore time) on 21 June 2012 or such later date(s) as may be announced from time to time by or on behalf of the Offeror (the “Closing Date”), approval of the Partial Offer by Relevant Shareholders representing more than 50 per cent. of the valid votes received from Relevant Shareholders (provided that the Offeror, parties acting in concert with the Offeror and their associates shall not be allowed to vote) (the “Approval Condition”); and
b. the Offeror having received, by the Closing Date, valid acceptances in respect of at least fifteen per cent. (15%) of the Relevant Shares as at the Record Date (the “Acceptance Condition”).
The Partial Offer is unconditional in all other respects.
3.2. Accordingly, the Acceptance Condition has been duly satisfied as at 5.00 p.m. on 20 June 2012. Except with the consent of the Securities Industry Council, the Approval Condition must be fulfilled or the Partial Offer must lapse within 21 days of 21 June 2012.