{"id":25287,"date":"2016-09-07T09:09:14","date_gmt":"2016-09-07T02:09:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronation-3g-privatisation-offer-for-sim-lian-becomes-unconditional\/"},"modified":"2016-09-07T09:09:38","modified_gmt":"2016-09-07T02:09:38","slug":"coronation-3g-privatisation-offer-for-sim-lian-becomes-unconditional","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronation-3g-privatisation-offer-for-sim-lian-becomes-unconditional\/","title":{"rendered":"Coronation 3G privatisation offer for Sim Lian becomes unconditional"},"content":{"rendered":"


\nArtist\u2019s impression of Wandervale EC by Sim Lian Group.
\nCoronation 3G\u2019s voluntary conditional cash offer for all the issued ordinary shares of Sim Lian Group (SLG) has become unconditional.
\nThis comes after the total number of shares owned, controlled or agreed to be acquired by Coronation 3G and its concert parties amounted to 906.27 million shares, representing around 90.10 percent of the total number of shares as at 5pm on Monday (5 September), fulfilling the 90 percent acceptance condition.
\nWith this, the offer will remain open for acceptance until 5:30pm on 10 October. Since Coronation 3G does not intend to extend the offer beyond the closing date, any acceptances received after 5:30pm on this date will be rejected.
\nA Singapore investment holding company, Coronation 3G is owned by the Kuik family and led by SLG\u2019s Founder and Executive Chairman Kuik Ah Han.
\nThe company made a voluntary conditional cash offer of S$1.08 per share for all outstanding shares of SLG that it doesn\u2019t already own.
\nRepresenting a premium of 26.5 percent and 28 percent above the six-month and 12-month volume-weighted average price (VWAP) respectively, \u201cthe offer presents SLG shareholders with a compelling cash exit opportunity given the illiquidity of its shares\u201d, said Coronation 3G.
\nSLG shares have not traded at or above the offer price since its listing in 2000.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Coronation 3G privatisation offer for Sim Lian becomes unconditional<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of Wandervale EC by Sim Lian Group. Coronation 3G\u2019s voluntary conditional cash offer...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-25287","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6zR","jetpack-related-posts":[{"id":22438,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-founder-launches-cash-offer-to-privatise-developer\/","url_meta":{"origin":25287,"position":0},"title":"Sim Lian founder launches cash offer to privatise developer","date":"August 10, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Wandervale EC by Sim Lian Group. An investment holding company owned by the Kuik family and led by Kuik Ah Han, Founder and Executive Chairman of Sim Lian Group (SLG), is looking to privatise and delist the property developer. In an SGX filing on Monday (8\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23139,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pwc-appointed-ifa-to-sim-lian-privatisation\/","url_meta":{"origin":25287,"position":1},"title":"PwC appointed IFA to Sim Lian privatisation","date":"August 17, 2016","format":false,"excerpt":"\r PwC will advise the company\u2019s independent directors in relation with the voluntary conditional cash offer for the company. \u00a0 PricewaterhouseCoopers (PwC) has been appointed by Sim Lian Group (SLG) as its independent financial adviser (IFA) to advise the independent directors in relation with the voluntary conditional cash offer for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-to-build-12-storey-condo-at-tampines-site\/","url_meta":{"origin":25287,"position":2},"title":"Sim Lian to build 12-storey condo at Tampines site","date":"August 24, 2017","format":false,"excerpt":"\r \u00a0 Sim Lian intends to develop a condominium project with over 2,000 units on the Tampines Court site, which it acquired for S$970 million, reported Business Times. This makes Tampines Court the biggest collective sale since 2007, when Farrer Court was sold for S$1.3388 billion. Exceeding the initial reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24030,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-profit-slumps-71-on-lower-development\/","url_meta":{"origin":25287,"position":3},"title":"Sim Lian profit slumps 71% on lower development","date":"August 26, 2016","format":false,"excerpt":"\r The group expects market conditions in Singapore to remain challenging due to the property cooling measures. Source: Sim Lian Group Sim Lian Group, which recently announced plans to go private, has reported a 71 percent year-on-year slump in net profit to $68.8 million for the financial year ended 30\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85062,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-unit-gunning-for-catalist-listing\/","url_meta":{"origin":25287,"position":4},"title":"Lian Beng unit gunning for Catalist listing","date":"April 12, 2018","format":false,"excerpt":"\r Artist\u2019s impression of KAP & KAP Residences, a mixed-use project by SLB Development. SLB Development, a spin-off from mainboard-listed Lian Beng Group, is seeking to be listed on the Singapore Exchange\u2019s Catalist Board. The property developer is offering 238 million shares at $0.23 each, comprising 230 million shares by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8223,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervale-ec-more-than-40-oversubscribed\/","url_meta":{"origin":25287,"position":5},"title":"Wandervale EC more than 40% oversubscribed","date":"February 29, 2016","format":false,"excerpt":"\r Prospective buyers at the Wandervale showflat. (Photo: Sim Lian Group) The application period for the Wandervale executive condominium (EC) closed on Sunday (28 Feb) after receiving 750 e-applications, said its developer Sim Lian Group. This means that the 534-unit project is more than 40 percent oversubscribed. OrangeTee and ERA\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25287"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=25287"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/25287\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=25287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=25287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=25287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}