GPSC Sets a Tender Offer Stage for GLOW from March 25 to May 17

Global Power Synergy Public Company Limited (GPSC) has announced that the company has made a tender offer to Glow Energy Public Company Limited (GLOW) at the price of ฿90.8136/share to acquire the remaining 30.89% of GLOW after GPSC has taken 69.11% on March 14, 2019.

 

All shareholders of the business can submit the tender offer acceptance form as from the commencement date of the offer period from March 25, 2019 to May 17, 2019, during the office hours of the Tender Offer Agent from 9:00 a.m. to 4:00 p.m., however, the tender offer agent will accept and transfer the shares of the offeree to the tender offer agent’s account as from May 7, 2019 to May 17, 2019, during the office hours of the tender offer agent from 9:00 a.m. to 4:00 p.m.

In order to prevent complications or errors arising from the determination of right to receive such dividend, and to provide clarity and to ensure fair treatment to all shareholders of the business who accept the tender offer from such record date to receive the dividend, any shareholder who submits the tender offer acceptance form before May 7, 2019 shall be a shareholder whose name is listed in the share register book as at May 3, 2019, and therefore shall remain eligible to receive the dividend from the business.

The offer price is initially ฿91.9906/share and will be reduced in accordance with the amount of the remaining dividend of the business (at the rate of ฿1.177/share) to which the shareholders of the business are entitled to receive such dividend pursuant to the resolution of the 2019 Annual General Meeting of Shareholders of the Business which will be held on April 23, 2019. The offer price after reducing the dividend amount will be ฿90.8136/share and the net price (after deducting the brokerage fee and VAT) to be received by the offeree will be ฿90.57067362/share.