Ron Sim in control of 96.03% Osim shares at close of offer

SINGAPORE (May 22): Osim International founder Ron Sim and his family are in control of 712.2 million shares representing 96.03% of the issued shares and 90.17% of its maximum potential issued share capital, at the close of offer at 5.30pm on Friday.

According to the listing rules of the Singapore Exchange, Osim shares will be suspended as offeror Vision Three, the special-purpose vehicle owned by Sim for the takeover offer, and parties acting in concert with it have succeeded in holding more than 90% of the shares in issue.

Osim can next exercise its right of compulsory acquisition under the Companies Act to compulsorily acquire all the shares of shareholders who have not accepted the offer at the at the final ex-dividend offer price of $1.39 in cash for each share.

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