CapitaLand’s stake in CapitaMalls Asia crosses 80%
Singapore, 21 May 2014– CapitaLand Limited is pleased to announce that its stake in CapitaMalls Asia Limited (CMA) is now approximately 81.3% after taking into account the open market purchases and acceptances of the Offer1 up to 5pm on 20 May 2014.
On 16 May 2014, CapitaLand increased its Offer Price for CMA shares to S$2.35 per Share2 (Final Offer Price) and declared the Offer unconditional. CMA shareholders who have accepted the Offer prior to 16 May 2014 will be automatically entitled to receive the Final Offer Price.
Between the announcement of Offer on 14 April 2014 and up to 5 pm on 20 May 2014, CapitaLand and its concert parties have acquired or agreed to acquire (including acceptances of the Offer1 ) an aggregate of 3,166,910,285 Shares, representing approximately 81.3% of the issued share capital of CMA.
Mr Lim Ming Yan, President & Group CEO, CapitaLand Limited, said: “We are pleased with the positive reaction to the Final Offer Price and look forward to a successful win-win outcome for all CMA and CapitaLand shareholders.”
He added: “CapitaLand is committed to delisting CMA and we are confident that we will achieve this objective. The proposed delisting and full integration of CMA is in line with our ‘One CapitaLand’ strategy to enhance our long term competitiveness. The Group will be well-positioned to deepen and strengthen our ability to undertake and optimise integrated developments with the simplified structure.”
As the Offer is now unconditional, CMA shareholders whose valid acceptances have been received on or before 16 May 2014 will be paid on 26 May 2014. 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 close on 9 June 2014, unless otherwise extended.