CUSCADEN Peak’s mandatory cash offer to acquire all units of SPH Reit has turned unconditional on 1 June 2022. It received valid acceptances of its chain offer in respect of approximately 4.64 per cent of total issued SPH REIT Units.
This brings the total number of units owned, controlled, acquired or agreed to be acquired by the Offeror and its concert parties to around 1.46 billion, representing 51.96 per cent of the total number of issued SPH Reit units. (Business Times, 2 June 2022).
The chain offer was extended to 30 June. At the close of 30 June, the Offeror has received valid acceptances of the Chain Offer of 402,882,246 Offer Units, representing approximately 14.36% of the total issued SPH REIT Units (inclusive of 4.64 per cent received earlier).
The total number of SPH REIT Units owned, controlled, acquired or agreed to be acquired by the Offeror Concert Parties amount to an aggregate of 1,730,130,671 Offer Units, representing approximately 61.68% of the total number of issued SPH REIT Units and approximately 61.61% of the maximum potential issued SPH REIT Units. (Company Announcement 30 June 2022)
38.32 per cent of total number of issued SPH REIT Units are in public’s hands other than Cuscaden Peak and Concert Parties’ ownership.
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