SINGAPORE, HONG KONG SAR – Media OutReach Newswire – March 25, 2024 – Isola Castle Ltd (Isola Castle) is pleased to announce that the level of acceptance of the conditional voluntary cash offer (the Offer) to acquire shares of Vinda International Holdings Limited (share code: 3331) (Vinda) has reached the mandatory acquisition threshold (i.e. 90% of the Shares Offered). As of March 22, 2024, valid acceptances of the Offer represent approximately 90.40% of the Shares Offered.
Isola Castle is an ad hoc company indirectly 100% owned by APRIL, a member of the group of companies managed by RGE. Headquartered in Singapore, RGE-managed companies are global industry leaders across a range of bioeconomy, transition and renewable energy sectors. APRIL operates one of the largest, most technologically advanced and efficient manufacturers of pulp and paper products, including its flagship product PaperOne.TM.
Belinda Tanoto, Managing Director of RGE, said:
“We would like to thank shareholders for their confidence in us and look forward to building a stronger, more efficient and more sustainable business with the rest of the Vinda team.“.
Isola Castle will privatize Vinda by exercising its right to compulsorily acquire the offered shares which are not already owned or acquired by Isola Castle under the offer on the same terms as the offer (i.e. at the price offered at HK$23.50 per share).
Offer remains open for acceptance
The Offer will remain open for acceptance until
4 p.m. Tuesday April 2, 2024 and will not be extended.
No plans for major changes
Except for changes in the composition of the board of directors, there are no plans to make major changes to Vinda’s current business operations, including a redeployment of Vinda’s fixed assets or to introduce major changes in the continued employment of Vinda employees following the Offer.
Acceptance Procedures
To accept the offer, shareholders must complete and sign the
Form of acceptance accompanying the
Composite document according to the instructions printed on it.
The completed and signed acceptance form should be sent, together with the relevant share certificate(s) and/or other title documents, to the Registrar, Computershare Hong Kong Investor Services Limited, Shops 1712-1716, 17th Floor. , Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong, marked “Vinda International Holdings Limited – Offer” on the envelope, in any case no later than
4:00 p.m. April 2, 2024.
Capitalized terms used in this document will have the same meaning as defined in the Composite Document dated March 8, 2024. The Composite Document is accessible at the following address:
www.hkexnews.hk Or
www.vinda.com.
Hotline and email inquiry
For any questions of an administrative and procedural nature regarding the Offer, please contact us via the following means:
· By telephone: +852 2319 4859
· Working hours: Monday to Friday, 9:00 a.m. to 6:00 p.m. (Hong Kong time)
· By email:
[email protected]
Background information
· On 15 December 2023, Isola Castle announced its offer, subject to the satisfaction or waiver (as applicable) of certain conditions precedent, to acquire shares of Vinda at HK$23.50 per share.
· On March 4, 2024, Isola Castle and Vinda jointly announced that all prerequisites had been met.
· On March 8, 2024, Isola Castle and Vinda jointly published the Composite Document relating to the Offer. The Offer is open for acceptance by shareholders from March 8, 2024.
· On March 11, 2024, Isola Castle and Vinda jointly announced that the Offer had become unconditional in all respects.
Hashtag: #IsolaCastle #Coming soon
The issuer is solely responsible for the content of this announcement.
