SINGAPORE (THE BUSINESS TIMES) - Investment holding company Tramore Global is making a 3.38 cents-per-share offer for all the shares in Tee International it does not own as a consequence of a 36.8 per cent stake acquisition, Tee International said in a bourse filing on Tuesday evening (July 7).. Read more at straitstimes.com.
SINGAPORE - Investment holding company Tramore Global is making a 3.38 cents-per-share offer for all the shares in Tee International it does not own as a consequence of a 36.8 per cent stake acquisition, Tee International said in a bourse filing on Tuesday evening .
The 3.38 cent offer price represents a 25.19 per cent premium over the three-month volume-weighted average price per share, but a 33.73 per cent discount to the 12-month VWAP per share. Tramore Global, which was incorporated in the British Virgin Islands on Jan 22, 2020, did not own or control any shares in Tee International prior to its acquisition.
The offer will become unconditional when Tramore Global has received enough valid acceptances that will result in it, and parties acting or deemed to be acting in concert with it, holding more than 50 per cent of the maximum potential issued shares in Tee International. The maximum potential issued shares means the total number of shares that would be in issue had all the outstanding warrants been validly exercised or converted as at the date of such declaration.
Tee International's warrants represent approximately 8.12 per cent of the company's maximum potential issued share capital. The exercise period for the warrants commenced on April 30, 2018 and ends on Oct 30, 2020.
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