With this, Patec now owns 247,855,787 shares in Broadway, representing a 54.51% stake or 53.01% of the latter’s maximum potential issued share capital. In its offer announcement on Oct 28, Patec noted that the offer will not become or be declared unconditional until it has received valid acceptances of 50% of the voting rights attributable to the maximum potential issued share capital in Broadway.
The offer for shares in Broadway Industrial Group has turned unconditional in all respects on Nov 14.
As at 6pm on the same day, Patec Group, the offeror of Broadway’s shares, received valid acceptances amounting to 50,890,938 shares representing an 11.19% stake in Broadway’s total issued share capital.
