Green Esteel Pte. Ltd. Launches Mandatory Cash Offer for HG Metal Manufacturing Limited

Green Esteel Pte. Ltd. has announced a mandatory conditional general cash offer to acquire all outstanding shares of HG Metal Manufacturing Limited (excluding treasury shares and shares already owned or controlled by Green Esteel and its concert parties). This move could significantly impact the share value of HG Metal Manufacturing, as shareholders are presented with the opportunity to tender their shares under specific conditions.

Key Details of the Offer

• The offer document, detailing the full terms and conditions, was electronically dispatched to shareholders on 6 January 2025. Shareholders are encouraged to review it thoroughly.
• The offer will close strictly at 5:30 PM (Singapore time) on 3 February 2025. The Offeror has categorically stated that there will be no extensions beyond this date, regardless of the offer’s status.
• Shareholders holding shares deposited with The Central Depository (Pte) Limited (CDP) are required to submit the Form of Acceptance and Authorisation (FAA), while those holding shares outside CDP must submit the Form of Acceptance and Transfer (FAT). Both forms must be completed and returned by the closing date.

Important Considerations for Shareholders

Shareholders must note the following key points as they may influence decision-making:

• The offer applies only to shares not already owned by Green Esteel and its concert parties.
• No printed copies of the offer documents will be dispatched. Shareholders can access them electronically via the Singapore Exchange Securities Trading Limited (SGX-ST) website or the HG Metal Manufacturing Limited website.
• For CPFIS and SRS investors, instructions on how to accept the offer will be provided by their respective CPF or SRS agent banks.
• The offer is subject to the regulatory framework of Singapore. Overseas shareholders must ensure compliance with relevant local laws and are responsible for any taxes or duties incurred in their jurisdictions.

Potential Price-Sensitive Information

As the offer is a cash buyout, it could potentially impact HG Metal Manufacturing’s share prices depending on shareholder sentiment and the perceived value of the offer. Shareholders are advised to consult with their financial advisers and consider the independent evaluation of the offer, which will be published by the directors of HG Metal Manufacturing and their appointed financial adviser.

Accessing the Offer Documents

Shareholders can retrieve the electronic copies of the offer documents, including the Notification, FAA/FAT forms, and related documents, from the SGX-ST website. Alternatively, they can collect the documents in person or request them to be mailed to a Singapore address by contacting Tricor Barbinder Share Registration Services.

Final Reminder

The offer closes on 3 February 2025, and late submissions will not be accepted. Shareholders are urged to act promptly to ensure their participation if they wish to accept the terms of the offer.

Disclaimer

This article is for informational purposes only and does not constitute financial advice. Shareholders are strongly encouraged to consult their stockbrokers, financial advisers, or other professional advisers before making any decisions regarding their shares. The author and publisher of this article bear no responsibility for any actions taken based on the information provided herein.