SINGAPORE (Indonesia Today) – Gul Technologies Singapore Ltd, a company controlled by Sjamsul Nursalim family, has received a formal proposal from Greenwich Pacific Pte Ltd to seek the voluntary delisting of Gul Technologies from SGX.
GulTech also informed that Nuri Pacific and Tuan Sing, which hold approximately 42.96% and 43.33% shares respectively, have given an irrevocable undertaking to Greenwich to vote for or procure the voting for the delisting resolution.??
Under the delisting proposal, Greenwich will make an exit offer to acquire all the shares, including those held by Nuri and Tuang Sing at S$0.162 in cash.
That means Nuri and Tuan Sing will get a combined S$130 million for the shares. The offer price represents 38.5% premium to the last transacted price of GulTech (Sept 12).
Gul Technologies manufactures and sells printed circuit boards. It operates factories in Singapore and China. (Indonesia Today)??
??