Silverlake Axis (SAL) has extended its offer closing date to 5.30pm on Oct 21, two weeks from its original closing date of Oct 7.
As at 6pm on Oct 3, SAL says it received valid acceptances of 2.12 billion offer shares, representing about 84.17% of the company’s shares.
SAL’s offeror, E2I, and its concert parties own about 74.1% of SAL’s shares as at its offer date, Aug 26.
On Sept 24, SAL’s offeror said it does not intend to increase its offer consideration of 36 cents per share in cash. SAL’s shareholders may also opt to receive a mix of 30 cents in cash and one new redeemable preference share in the capital of the offeror. The redemption amount for each new share in the offeror is 18 cents.
As at 12.49pm, shares in SAL are trading 0.5 cents lower or 1.37% down at 36 cents.
