“Accordingly, the offer has become unconditional in all respects,” says United Overseas Bank (UOB), which is acting on behalf of the Tangs through their company Tang Dynasty Treasure.
The offer made by Chip Eng Seng’s chairperson, Celine Tang, and her husband Gordon Tang, to acquire more shares in the company they don’t already own, has been declared unconditional on Dec 14.
As at 6pm on the same day, the Tangs had received valid acceptances of 405.68 million shares, or 51.73% of the total number of issued shares. The figure includes acceptances received from the Tangs’ concert parties of about 386.37 million shares, or 49.27% of the total number of shares in Chip Eng Seng.
