SINGAPORE - Grand Slam RF18 Investments and related parties now control 92.02 per cent of furnishing and interior design firm Nobel Design Holdings, as part of an unconditional cash offer to acquire all its shares.
This means trading in Nobel Design's shares will be suspended, as the percentage of its shares held in public hands has fallen below 10 per cent.
Shareholders who have not accepted the offer will not be able to trade their shares.
In an exchange filing on Wednesday (Jul 5), Grand Slam RF18 Investments said it intends to exercise the right to compulsorily acquire all remaining shares and delist Nobel.
Grand Slam is a Singapore-incorporated investment holding company, owned by Goon Eu Jin, Wee Ai Quey, Kho Chuan Thye and Southern Cross Holdings, known as sponsors.
It made an unconditional cash offer in May to acquire all of Nobel Design Holdings' shares at 51 cents apiece.
OCBC is the sole financial adviser to Grand Slam for the offer.