In today’s briefing:
- Second Chance Properties (SCE SP): MSM Makes A Move
- Second Chance Properties (SCE SP): Voluntary Unconditional Offer at S$0.30
Second Chance Properties (SCE SP): MSM Makes A Move
- Founder/CEO Mohamed Salleh Maricar (MSM) and his family have made a voluntary unconditional general Offer for the 14.94% in gold/jewellery retailer Second Chance Properties (SCE SP) (“SCP”) not held.
- The S$0.30/share cash Offer is a 39.5% premium to last close. The Offer price is final.
- The Offer is unconditional in all respects. This will trade tight. A delisting Offer is next on the cards.
Second Chance Properties (SCE SP): Voluntary Unconditional Offer at S$0.30
- Second Chance Properties (SCE SP) has disclosed a voluntary unconditional offer from Mohamed Salleh’s family at S$0.30 per share, a 39.5% premium to the undisturbed price (10 July).
- The offer document will be despatched by 31 July. The offeree circular will be despatched by 7 August at the earliest, implying the earliest close of 28 August.
- The offer price has been declared final and is attractive as it represents an all-time high. The offeror will likely achieve the 90% compulsory acquisition threshold.
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