Penguin International has extended the closing date of its voluntary conditional cash offer yet again. This time, the offer will close at 5.30pm on Aug 3.
This is the third time Penguin has extended its closing date, first to July 6 from June 22 and to July 20 from July 6 previously.
As at 6pm on July 17, Penguin had received a total of 195.0 million shares, or an 88.57% stake of the total number of shares in the company, closing in on the 90% mark where the company’s offer will turn unconditional.
Penguin had made a cash offer of 82 cents per share on May 4, its second attempt to do so after its previous cash offer of 65 cents per share in January 2021.
The company increased its offer price to 83 cents per share on May 15. The revised offer includes Penguin’s dividend payout for FY2022.
Shares in Penguin closed at 84 cents on July 17.
