Offer to acquire Penguin International extended to 6 July
The original closing date is on 22 June.
The offer to acquire all the issued and paid-up ordinary shares in the capital of Penguin International was extended beyond the first closing date of 22 June.
"The offer will remain open for acceptance for not less than 14 days after the date on which the offer would otherwise have closed, to give those Shareholders who have not accepted the Offer the opportunity to do so," read the bourse filing from Penguin International.
Offeror Aleph Tav Limited announced that it intends to make Penguin International its wholly-owned subsidiary and does not want to preserve the latter's listing status.
"Accordingly, the Offeror, if and when entitled, intends to exercise its rights of Compulsory Acquisition and does not intend to take any step for the public float to be restored and/or for any trading suspension of the Shares by the SGX-ST to be lifted if, inter alia, less than 10% of the total number of Shares (excluding any Shares held in treasury) are held in public hand," read the statement.
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