The offeror E2I notes that the consideration is final and does not intend to increase the offer price
THE closing date for a voluntary unconditional offer to take Silverlake Axis private at S$0.36 in cash per share has been extended to 5.30 pm on Oct 21 from Oct 7.
This comes as the total number of shares held by the offeror, its concert parties and valid acceptances reached 85.34 per cent of Silverlake Axis’ total number of issued shares as at 6 pm on Thursday (Oct 3).
The offeror E2I noted that the consideration is final and that it does not intend to increase the offer price.
The extension will mean that E2I – which is wholly owned by Silverlake Axis’ controlling shareholder Zezz FundQ and led by its chairman – has two more weeks to gain enough acceptances to cross the 90 per cent threshold, and compulsorily acquire the remaining shares of Silverlake Axis.
A separate announcement will be made on Monday on the level of acceptances for the offer as at 6 pm on Friday.
On Aug 26, E2I made a voluntary unconditional offer to take the enterprise technology company private. It described its offer as an opportunity for shareholders who have found it difficult to exit their investment because of the counter’s low trading liquidity.
Silverlake Axis’ shares were trading flat at S$0.365 as at 1.31 pm on Friday.
