Willas-Array (00854) and the offeror Hong Kong Yachuang Taixin Electronics Co., Ltd. jointly announced that the final precondition (i.e. the last item) of the preconditions has been met on July 11, 2024, according to the offer approved by the Shanghai Yachuang shareholders at the Shanghai Yachuang shareholders' special meeting held on July 11, 2024. Therefore, all preconditions have been met on July 11, 2024.
As of the date of this joint announcement, the offeror and its concert parties collectively hold 18.6143 million shares, representing 21.23% of the company's issued share capital. As of the date of this joint announcement, the company holds a total of 0.812 million unexercised share options, of which 0.407 million exercise prices are HKD 3.91, and 0.405 million exercise prices are HKD 2.61.
In view of the final precondition has been fulfilled, the Hong Kong offer agent and the Singapore offer agent (on behalf of the offeror) hereby announced that the offeror does intend to make an offer in compliance with the Takeovers Code and the Singapore Code. The cash offer price is HKD 3.30 per offer share (equivalent to approximately SGD 0.57, calculated based on the prevailing SGD exchange rate as of the date of this joint announcement).
