As at 6pm on Nov 4, the Korean conglomerate received valid acceptances of 554,004,556 shares in the Mainboard-listed company, representing a stake of 44.45%. From the offer announcement date, Sept 11, and up to the end of the trading day on Nov 4, Hanwha acquired a total of 84,847,300 shares from the open market representing a 6.81% stake in Dyna-Mac. Including its 22.69% stake that it already owned before the offer, the Korean group now owns a total of 638,851,856 shares in Dyna-Mac, representing a 51.25% stake or approximately 50.94% of the latter’s maximum potential issued share capital.
The offer made by Hanwha Group for the shares it does not own in Dyna-Mac has been declared unconditional as to the number of acceptances.
The offer, when made on Sept 11, had a minimum acceptance condition, where Hanwha Group had to hold more than 50% of the shares in issue as at the close of the offer. The offer was to close at 5.30pm on Nov 6.
