Hanwha's offer for Dyna-mac shares declared unconditional as to acceptances

The closing date for the offer has been extended to 20 November.

Hanwha’s offer for the shares it does not own in Dyna-Mac has been declared unconditional as to acceptances.

The offer made on 11 September has satisfied the minimum acceptance condition of Hanwha holding more than 50% of the issued shares at the initial close date of the offer on 6 November.

Hanwha has received valid acceptances of 554,004,556 shares, amounting to more than 50% of Dyna-mac shares.

At the offer date, Hanwha held 282,859,400 Dyna-mac shares, representing approximately 22.69% of the total issued shares.

As of 4 November, Hanwha holds an aggregate of 638,851,856 shares, representing approximately 51.25% of the total number of issued shares and approximately 50.94% of the maximum potential issued share capital of Dyna-mac.

The offer will remain open for at least 14 days after the original closing date on 6 November at 5:30 pm, which is now extended to 20 November at 5:30 pm.

However, the offer has not become unconditional in all respects as it remains conditional upon the Competition and Consumer Commission of Singapore’s (CCCS) issuance of a “favourable decision” during its preliminary assessment under the CCCS Guidelines on merger procedures.

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