Sim Lian declares privatisation offer by Coronation 3G unconditional

Buyer already received 90.1% acceptance from shareholders.

Sim Lian Group’s privatisation offer from Coronation 3G has been declared unconditional as the latter has already gathered around 90.1% of the former’s total number of shares, fulfilling the minimum condition of the offer.

According to Sim Lian, the total number of shares owned, controlled, or agreed to be acquired by Coronation 3G including valid acceptances of the offer amount to a total of 906.3 million shares as at 5:00 pm local time on 5 September 2016. The offer will remain open for acceptance until 5:30 Singapore time on 10 October 2016.

An investment holding company owned by Sim Lian’s founder, Kuik Ah Han, Coronation 3G was making a voluntary conditional cash offer of $1.08 per share for all the outstanding shares in Sim Lian. The group seeks to delist the company as shares have always traded below the offer price since its listing in 2000.