CapitaLand increases Offer Price for CapitaMalls Asia and declares Offer unconditional
Final Offer Price of S$2.35 per Share
Singapore, 16 May 2014 – Sound Investment Holdings Pte. Ltd., a wholly-owned subsidiary of CapitaLand Limited (CapitaLand), refers to its cash offer (Offer) for all the remaining shares of CapitaMalls Asia Limited (CMA). It has revised its Offer Price for CMA shares to S$2.35 per Share (Final Offer Price). This Final Offer Price takes into account the opinion stated in the Letter from the Independent Financial Advisor to the Independent Directors of CMA in regard to the Offer. CMA shareholders who have earlier accepted the Offer will be entitled to receive the Final Offer Price.
In addition,
- CapitaLand will not further revise the Final Offer Price.
- The 90 per cent acceptance condition has been waived. The Offer therefore has become unconditional in all respects.
The waiver of the 90% acceptance level condition provides certainty of acceptance to CMA shareholders who accept the offer.
As the Offer is now unconditional, CMA shareholders whose valid acceptances have been received on or before 16 May 2014 will be paid within 10 days from 16 May 2014 and CMA shareholders whose valid acceptances are received after 16 May 2014 will be paid within 10 days from the date of receipt of their valid acceptances.
The Offer will now close on 9 June 2014, unless otherwise extended.