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Sen Yue Holdings Ltd. ( (SG:5BS) ) has provided an announcement.
Cenvios Holdings Pte. Ltd., advised by ZICO Capital, has proceeded to exercise its right of compulsory acquisition under Section 215(1) of the Singapore Companies Act to acquire all remaining shares of Sen Yue Holdings Limited not tendered in its earlier voluntary unconditional general offer. Dissenting shareholders will receive cash consideration of S$0.008 per share, with settlement effected via CDP credits or cheques, after which Cenvios will own 100% of Sen Yue and the company will be delisted from the Catalist board, ending its public listing status and consolidating ownership under the offeror.
The compulsory acquisition follows the offeror’s earlier success in securing over 90% of Sen Yue’s shares and loss of free float, satisfying thresholds that enable forced buyout of minority investors. The move removes Sen Yue from public markets, reducing trading liquidity for existing shareholders but providing an exit at the offer price, while allowing Cenvios to fully integrate and restructure the business away from the disclosure and regulatory requirements of a listed environment.
More about Sen Yue Holdings Ltd.
Sen Yue Holdings Limited is a Singapore-incorporated company listed on the Catalist board of the Singapore Exchange. The group operates in the industrial and manufacturing-related sector, and its shares have been the subject of a voluntary unconditional general offer by Cenvios Holdings Pte. Ltd., signalling a change in control and ownership focus.
Current Market Cap: S$21.65M
For a thorough assessment of 5BS stock, go to TipRanks’ Stock Analysis page.