Rumah & Co, a consortium made up of Rumah Property, Oregold, Globalcities Consult and Silverstone Ventures, has raised its offer price to 20 cents per share for all the shares it does not own in GYP Properties.
The offer is said to be final.
UOB Kay Hian has also confirmed that the consortium has sufficient financial resources to satisfy the full acceptance of the offer for the offer shares, excluding the 170.4 million shares that it already owns as at the offer announcement date.
Shareholders who had accepted the offer earlier are also entitled to the final offer price, says GYP in a bourse filing dated Sept 13.
Rumah & Co, on July 9, had made a voluntary unconditional cash offer of 16.8 cents per share for the shares it did not own in GYP Properties.
The consortium, on Sept 7, revised its offer to 18.8 cents in cash.
The offer will close at 5.30pm on Oct 7.
As at 9.08am, shares in GYP surged 0.7 cents higher or 3.63% up to reach 20 cents, the same as the consortium’s offer price.
