The minimum acceptance condition for the exit offer for Healthway Medical Corporation has been satisfied after shareholders holding 50.47% of the shares in the company accepted the offer put out by OUE LJ3 Healthcare's subsidiary, OUEH Investments.
In the exit offer letter dated Sept 5, the exit offer was said to be conditional upon OUE Healthcare receiving more than 50% of the shares in Healthway Medical other than those held by the concert party group.
OUE Healthcare had made a conditional exit offer of 4.8 cents per share in all the shares of Healthway Medical on July 3. This excludes the shares held by the concert party group. Should the offer go through, Healthway Medical will be delisted from the SGX-ST.
The offer will close at 5.30pm on Oct 12.
Shares in Healthway Medical closed flat at 4.8 cents on Sept 27.
