NO SIGNBOARD’S investor Gazelle Ventures has made a mandatory unconditional cash offer to acquire all the issued and paid-up ordinary shares of the Catalist-listed restaurant operator, excluding those already owned by the investor and its allies.
The offer price of S$0.0021 per share is at a 97.5 per cent discount over the last transacted price preceding the offer announcement on Mar 28.
Gazelle Ventures released the electronic offer document on Friday (Apr 19), noting that no printed copies of the offer document will be dispatched to shareholders.
The investor is required to make the offer as a result of the allotment and issue of about 231.2 million shares to the offeror concert party group.
Under the Singapore Code on Take-overs and Mergers, the offeror is required to make an offer for the offer shares at not less than the highest price at which the offeror concert party group has acquired shares during the offer period, and in the six months immediately preceding the date of offer announcement.
Accordingly, the offer will close at 5.30 pm on May 16.
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Shares of No Signboard : 9I7 0% closed flat on Thursday at S$0.08.
