GCL subsidiary’s offer for Ban Leong declared unconditional in all respects

GCL Global Holdings is the indirect parent company of Epicsoft Asia, the bidder seeking to acquire all of the issued and paid-up ordinary shares in the capital of Ban Leong Technologies, excluding shares held in treasury pursuant to Rule 15 of the Singapore Code on Take-overs and Mergers. The Offeror announced that the total number of Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it represent approximately 50.90% of the total number of Shares as of May 27, 2025, and accordingly, the Offer has become unconditional as to acceptances and is hereby declared unconditional in all respects. If the Offeror acquires 90% or more of the total number of Shares, the Offeror will be entitled to exercise its right under Section 215(1) of the Companies Act 1967 of Singapore to compulsorily acquire all the Shares from shareholders of Ban Leong who have not accepted the Offer at a price equal to the offer price of S$0.6029. The Offeror will then proceed to delist Ban Leong from the Singapore Exchange Securities Trading Limited, if the minimum free float requirement is not met.