The original offer price was previously determined on the basis that the shares will be acquired with the right to receive any distribution that may be declared, paid or made by the company on or after the offer announcement date. This includes the first and final dividend of 2.25 cents per share for the FY2022 ended Dec 31, 2022.
Penguin International (SGX:BTM
) has upped its offer price to 83 cents per share, up from its initial offer of 82 cents. The new offer price is said to be “final” although it may be revised “in a competitive situation”, says the statement put out by Penguin on May 15.
The revised offer also includes the company’s dividend payout for FY2022, which was approved by shareholders at its annual general meeting (AGM) on April 27. This means that a shareholder who was registered as at the record date of May 10, will receive both the FY2022 dividend and the final offer price. On the other hand, shareholders who were not registered by the record date and validly accepts the offer, will only receive the final offer price.
