This says the transferee or offeror must, within one month from the date of the transfer, give notice to holders of the remaining shares that have not been tendered, that they can still tender their shares, and OCBC will have to accept them.
Oversea-Chinese Banking Corporation’s (OCBC) (SGX:O39
) offer for Great Eastern Holdings (SGX:G07) closed at 5.30pm on July 12. OCBC now holds 93.52% of GEH. On June 25, OCBC’s ownership crossed 90%. As a result, GEH shares will be suspended on July 15.
Accordingly, the offer is no longer open for acceptance and any acceptances received after 5.30pm Singapore time on July 12 will be rejected. However, shareholders who have not accepted the offer can still require the offeror to acquire their shares at the offer price pursuant to Section 215(3) of the Companies Act.
