The offeror, E2I Pte. Ltd. and its shares will not be listed on any securities exchange. The shares will be mandatorily redeemed by E2I five years after its issuance at the redemption amount.
Silverlake Axis, on Aug 26, announced that it is offering 36 cents per share to its shareholders in a bid to take the company private. The 36 cents will be paid in cash, which represents a premium of 28.1% over the volume-weighted average price (VWAP) per share for the one-month period including Aug 23. The consideration also represents a premium of 25.0%, 31.9% and 31.9% over the VWAP per share for the three-, six- and 12-month period respectively.
Alternatively, Silverlake Axis (SGX:5CP
) ’ shareholders may opt to receive a mix of 30 cents in cash and one new redeemable preference share in the capital of the offeror. The redemption amount for each new share in the offeror is 18 cents.
