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UIC extends SingLand offer deadline, keeps offer price the same

Published on Apr 7, 2014 2:36 PM

United Industrial Corp (UIC) has extended the deadline for its general offer for Singapore Land shares to April 21.

It announced this on Monday, the day the offer was originally supposed to close.

UIC, which controlled 81.77 per cent of property developer SingLand by the end of Thursday last week, also announced that it is keeping its offer price at $9.40 per share and does not intend to raise it.

This "no increase" statement means that it will "not be allowed to subsequently amend the terms of the offer, including the offer price, in any way" in line with Singapore's takeover code, it noted.

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