In a significant development for shareholders of HG Metal Manufacturing Limited (HG Metal), Green Esteel Pte. Ltd. (the “Offeror”) has launched a mandatory conditional general cash offer to acquire all issued and paid-up ordinary shares of HG Metal, excluding treasury shares and shares already owned, controlled, or agreed to be acquired by Green Esteel and its concert parties. This announcement could have important implications for shareholders and the company’s share price.

Key Offer Details

• The Offer is conditional and is being made at a cash price for all eligible shares.
• The Offer Document containing the full terms, conditions, and procedures was electronically released on January 6, 2025.
• Shareholders are advised that no printed copies of the Offer Document will be sent. Instead, the document and related forms are available electronically on the Singapore Exchange (SGX) website and the HG Metal corporate website.
• The Offer will close at 5:30 PM (Singapore time) on February 3, 2025, with no extensions planned.

Procedures for Acceptance

Shareholders who wish to accept the Offer need to follow these steps:

• If you hold shares deposited with the Central Depository (CDP):
  • Submit the duly completed and signed Form of Acceptance and Authorisation (FAA) in physical or electronic form via the SGX Investor Portal.
  • Electronic submissions are available only for individual and joint-alt account holders. Corporate or joint-and account holders must submit a physical copy.
• If you hold shares not deposited with CDP:
  • Submit the completed and signed Form of Acceptance and Transfer (FAT) in physical form either by hand or by post to the designated address.

All submissions must be received by 5:30 PM on February 3, 2025. Late submissions will be rejected.

Important Notes for Shareholders

• Shareholders are reminded that the Offer will not be extended beyond the stated deadline, even if it becomes unconditional on or before the Closing Date.
• Overseas shareholders should note that the availability of the Offer may be subject to local legal and regulatory requirements in their jurisdictions. They are encouraged to seek advice and satisfy themselves regarding compliance with such requirements.
• Electronic copies of the Offer Document and related forms can be accessed on the SGX website or HG Metal’s corporate website. Physical copies can be obtained from the Share Registrar’s office in Singapore.
• Shareholders are advised to consult their financial or legal advisers if they are unsure about the implications of the Offer or the action they should take.

Implications for Shareholders and Potential Impact on Share Price

The mandatory nature of the Offer highlights a significant corporate action that may affect the share price of HG Metal Manufacturing Limited. Shareholders should carefully evaluate the Offer’s terms, including its cash component, and consider the opinions of the independent directors and financial advisers, which will be made available in due course. The refusal to extend the Offer deadline could also drive immediate decision-making by shareholders, potentially influencing market dynamics.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Shareholders are encouraged to consult professional advisers to understand the full implications of the Offer. The information provided is based on the Notification and related Offer Document issued by Green Esteel Pte. Ltd.