The proposal that was made by Chip Eng Seng’s chairperson, Celine Tang, along with her husband, Gordon Tang, to acquire additional shares of the company that they don’t currently hold, was declared unconstitutional on the 14th of December.
Grand Dunman condo floor plan to house 1,040 residential units and a maximum building height of about 64 metres Singapore height datum.
By 6 pm at the time of writing, Tangs had received valid acceptances for 405.68 millions shares which is 51.73% of the total number of shares issued. This figure also includes acceptances from the Tangs”concert parties” totalling approximately 386.37 million shares which is 49.27% of the total number of shares issued by Chip Eng Seng.
“Accordingly the deal is now unconditional in all aspects,” says United Overseas Bank (UOB) that acts for the Tangs on their behalf through their business Tang Dynasty Treasure.
If an offer becomes or is declared to be unconditional The offer must be open to acceptance until at the very least fourteen more days. The expiration date for the offer is extended until 5.30pm on the 19th of January beginning on Jan 5.
The Tangs first announced their plans to purchase more shares of Chip Eng Seng that they did not already have on November 24,.
If they earn greater than 90% percent of shares of the company, they’ll be entitled to purchase the remaining shares and then delist the company.
If they earn over 90% percent of shares of the company, they’ll take advantage of their right to buy the remaining shares and then delist the company.