CMA CGM is eligible for a 90% interest and plans to let the NOL Group delisted

Autor:Tovi黄
Fuente:Shipping industry network
Fecha de Publicación:2016-06-29

Shipping industry network June 28 informed France to fly vessels 27 announced 90% stake in Singapore's Neptune Orient Group has acquired. Prior to the June 6, CMA CGM started voluntary unconditional cash offer for NOL shares are now held by CMA CGM Neptune 2.361 billion shares, accounting for 90.68% of total shares.

Currently, the public float of NOL Group, the Singapore Stock Exchange is below the minimum threshold of 10% of the subscription, which is likely to be suspended by quotes SGX, then, the CMA CGM does not intend to take any action to suspend the transaction. In other words, he determined to fly Neptune delisted from the SGX-ST.

Meanwhile, the CMA also confirmed that the company intends to exercise the right to obtain a compulsory acquisition of the investors have not received any offer for all shares held by Neptune. According to the Singapore Companies Act, it should get more than 91.05% of the stock before they can do so.

The shipping industry has repeatedly reported network, to fly in cash to acquire NOL bid 1.3 Singapore dollars per share, the offer will not be improved. Before the offer closed in, the NOL shareholders accept the offer will receive 1.3 Singapore dollars per share, the offer is valid for the receipt of a valid acceptance of seven working days after.

When shareholders accept the offer in Singapore time July 18, 2016 5:30 pm Reply before, CMA may also announce a new deadline